TriNet, a cloud-based provider of on-demand HR services and a portfolio company of General Atlantic, has acquired Strategic Outsourcing, a provider of outsourced HR services and a portfolio company of Clarion Capital Partners.
The combined organization is now the largest independent professional employer organization and provides human resources services to more than 160,000 work site employees across a broad spectrum of industries.
Strategic Outsourcing is a professional employer organization which provides human resources outsourcing to small- and medium-sized businesses. The company specializes in payroll administration, safety and risk management, workers’ compensation, human resource administration, compliance, and benefits administration. The company was founded in 1995 and is based in Charlotte, NC (www.soi.com).
Strategic Outsourcing will maintain its name, brand, current products and services, and senior management team, including CEO Carl Guidice. “Strategic Outsourcing owes its significant success to our employees and their unwavering dedication to our clients,” said Mr. Guidice. “Joining forces with TriNet will allow two of the industry’s strongest professional employer organizations to come together, improving our ability to serve current and future clients with an enhanced portfolio of complementary products and services. We’re enthusiastic about working together to deliver a new level of offerings and service to our clients, and we are excited about the new opportunities as our two organizations come together.”
TriNet is a cloud-based provider of on-demand HR services to small businesses, providing critical HR-related services on an outsourced basis. Service areas include human resources, benefits, payroll, workers’ compensation, and human capital services. The company is based in San Leandro, CA (www.trinet.com).
Clarion Capital Partners is a middle market private equity firm that invests from $15 million to $50 million in companies that have EBITDAs greater than $10 million. Sectors of interest include: business services; healthcare services; specialty financial services; consumer products; specialty retail; and media & entertainment. Clarion is based in New York (www.clarion-capital.com).
General Atlantic is focused on providing capital and strategic support to growth companies. The firm was founded in 1980 and manages approximately $17 billion in capital. General Atlantic has more than 75 investment professionals based in Greenwich, CT; Palo Alto, CA; London; Düsseldorf; Hong Kong; Beijing; Mumbai; and São Paulo (www.generalatlantic.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 10-30-12