Staffing Ventures, the recruitment support services firm, has changed its name and revised its business plan towards providing back office support for recruitment agencies.

The company, which is now called Supporta plc after its back office support system, has also bought Parys Snowdon Payroll, a payroll provider to the NHS.

Parys Snowdon is estimated to be the largest payroll company operating in the health service and the £5m deal makes Supporta one of the largest companies of its kind in the country.

Chief executive Gavin Kaye said: “This is part of our plan for the company to move more towards back office support. But we are not averse to looking at other recruitment companies to buy.”

Staffing Ventures was originally launched with the aim of providing venture capital funding for newly-formed recruitment groups.

“The business was set up with the vision of being more than just a recruitment firm, but to provide finance and back office systems as well,” said Kaye.

Now we have moved on from that and are looking to build on the Supporta product we have developed over the last few years.”

Kaye, who was appointed in September, said the firm had raised £4m from institutional investors, £3m of which went towards financing the deal.

The remaining £1m was split equally between covering the costs of acquisition and providing more working capital.

Supporta’s directors gave an extra £2m in shares to Parys Snowdon to complete the transaction.