PayChoice
  • Innovative Debt Financing
  • Maximizing Long Term Growth Over Near Term Profits
PayChoice

Prior to founding PAI Group, Inc., Bill Scott successfully built and sold one of the largest private payroll companies in the industry to Fleet Bank. On choosing a financial partner for PAI Group, he summed up his thoughts by saying, "Having built a successful company, I learned that being responsive to the market was a key to value creation - so I needed a partner who understood the industry and was capable of moving quickly." Scott turned to GHP to lead the acquisition of platform company Payroll Associates and the subsequent rapid consolidation of numerous licensees across the country with a $60 million equity investment. The early plan called for significant investment in infrastructure, sales and marketing plan that traded near term profitability for growth. Not only did GHP endorse the plan, we were able to arrange an innovative debt financing through a relationship bank with covenants based not on EBITDA, but on revenue. "GHP is a knowledgeable, creative and supportive financial partner. They are as comfortable with investing operating resources for growth as making acquisitions with debt. Flexibility like that is hard to find."