UCMS Group Expands its European Operations through a Business Combination with HeziHold of Hungary

UCMS Group EMEA and HeziHold of Hungary today announced that the two companies have formally joined forces to create an expanded organization focused on providing regional Business Process Outsourcing services and Software On Demand solutions, including HR, payroll and finance & accounting.

HeziHold is a recognized leader in the Hungarian market as a provider of Business Process Outsourcing services. With this merger, UCMS/HeziHold is now strongly positioned to provide regional services through its Budapest office, and via UCMS Group’s European offices (Zurich, Stockholm, Helsinki, Warsaw, Moscow, St. Petersburg, Kiev, Budapest, Bucharest and Cluj, with partners in Bratislava and the Baltic States).

“Recruiting, hiring, training and motivating employees is a business-critical task for most companies in Europe”, said Andreas Kemi, CEO of UCMS Group EMEA. “The Hungarian market is in the early stages of complex HR solutions and services penetration. HeziHold gives us a great platform for growth in Hungary and throughout the region.”

Building upon HeziHold’s core business, the newly merged company has been designated a Centre of Excellence for finance & accounting services of the UCMS Group. UCMS/HeziHold will also bring to the Hungarian market the highly successful Quinyx OnDemand HR software and outsourcing solutions, supplied by UCMS Group in other European markets.

Zoltan Herczeg remains in the position of Managing Director of the combined company, while Zsolt Sandor has been appointed co-Managing Director. These two experienced professionals will work together, retaining the existing HeziHold staff while expanding services under the well-positioned HeziHold brand in Hungary.

“Regional expansion has been a management priority for HeziHold for several years”, said Mr. Herczeg. “UCMS is clearly the right partner to achieve our ambitious goals. We will continue to provide our clients with high-quality tailored services, even as this partnership positions us to expand our offering in Hungary and throughout the region.”

The expansion also strengthens UCMS Group EMEA’s investor base, attracting Euroventures III, the leading regional private equity fund. The Euroventures investment provided the acquisition funding and support for UCMS Group’s Hungarian growth strategy. Ivan Halasz, Director representing Euroventures, said, “UCMS Group’s ability to leverage HeziHold’s strong platform with its vast regional experience, geographic spread and strong management team makes the expanded Group a very valuable asset at this time.”

Source: UCMS Group

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