DALLAS, Jan. 25, 2018 – GPB Capital Holdings has entered the professional employer organization (PEO) industry with the acquisition of MatrixOneSource, a provider of PEO services to small and mid-sized businesses located primarily in Florida.
The acquisition points to the role of private equity firms in the growth of the PEO industry, as increasing numbers of businesses recognize the value that PEOs offer.
MatrixOneSource, based in Jacksonville, was represented by Oaklins member Capital Alliance, a middle-market investment bank in Dallas whose specialties include mergers and acquisitions in the human capital management sector. MatrixOneSource provides employment-related services consisting of payroll administration, safety and risk management, benefits administration, 401(k), tax compliance, unemployment services, and human resource consulting services to approximately 7,000 worksite employees.
GPB Capital Holdings is a New York-based asset management firm with more than $1.5 billion in assets under management.
“Neal England at Capital Alliance brought MatrixOneSource to our attention,” said Abhaya Shrestha, managing director at GPB. “Neal’s PEO operating and M&A background was helpful in successfully acquiring MatrixOneSource.”
The CEO and sole shareholder at Matrix, Bill Perez, sought to recapitalize the company and provide his management team with the opportunity to drive expansion of the new platform. Capital Alliance was able to bring multiple competitive offers to the table for Perez to consider.
England’s “deep PEO industry knowledge drove our decision to engage Capital Alliance and played a key role in helping us close a successful transaction with the best buyer for Matrix,” Perez said.
The Matrix leadership team supported Capital Alliance’s preparation of a confidential information memorandum. Their work enabled Capital Alliance to manage an effective sale process.
Terms of the deal were not disclosed.
About Capital Alliance Corp. (www.cadallas.com)
Capital Alliance Corp. is a global mid-market investment banking firm, providing consulting services for mergers and acquisitions. The company represents client companies in a variety of markets, including human capital management, energy, technology, construction & engineering, and manufacturing. Since its founding in 1976, the privately held firm has completed more than 200 transactions with an aggregate transaction value in excess of $3 billion. For three decades, Capital Alliance has been a member of Oaklins, formerly M&A International, a membership organization of investment banking firms operating in the major economies of the world.
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