Honkamp Payroll Expands Presence in Rochester with Smart-HR Acquisition

Honkamp Payroll Expands Reach with Acquisition of Rochester’s Smart-HR

ROCHESTER, MN — In a strategic move to enhance its service offerings and geographic footprint, Honkamp Payroll, a payroll and management firm based in Dubuque, Iowa, has officially acquired Smart-HR, a local company situated in the Ironwood Square building at 300 Third Ave. SE.

The acquisition, finalized recently, sees Joel Goodew and Josh Haynes—who have been pivotal in Smart-HR’s operations since taking ownership in 2020—transitioning into new roles within Honkamp as payroll operations managers. The entire Smart-HR team of seven will remain in Rochester, contributing to Honkamp’s growing workforce, which now totals 37 employees.

Honkamp CEO Mike Welbes expressed enthusiasm about the merger, emphasizing the importance of Goodew and Haynes in driving future growth. “It’s more of a merger focusing on real key individuals who we think will help grow our business down the road,” he stated. “It also expands our geographic reach. We’re located in Dubuque with an office in Coralville, Iowa, and now Rochester. We like the Midwest.”

Founded in 2012 as part of the Astrup family’s portfolio, Smart-HR has been a significant player in the Rochester business landscape. Goodew and Haynes relocated the company to downtown Rochester in 2020, aiming to enhance community engagement and visibility. “For a long time, it’s been our goal to be more present and more available for customers and the community,” Goodew remarked in 2022. “Moving downtown is a huge part of that.”

The acquisition marks a new chapter for both companies, with Honkamp poised to leverage Smart-HR’s local expertise while Smart-HR benefits from the resources and support of a larger organization. As the business landscape continues to evolve, this merger highlights the importance of adaptability and community focus in driving success.

For more updates on local business developments, stay tuned.