Merger adds up to growth for Payroll+

FORT COLLINS – A New Jersey company backed by private equity funding has acquired Fort Collins-based Payroll+, apparently the first step in an effort to amass a string of small payroll service firms in the Mountain States region.

PayChoice, located in Moorestown, N.J., closed the acquisition of the 11-year-old Payroll+ in April. Financial terms of the deal were not disclosed.

Dave Fry, co-founder of Payroll+, which serves about 700 client businesses, will stay on as general manager of the Fort Collins office. The company will adopt the PayChoice name later this year.

With the purchase of Payroll+, PayChoice instantly gains a profile in…