Acquisition Expands Nationwide Footprint; Strengthens and Complements Presence Across the Eastern Seaboard and Southern U.S.
MELVILLE, N.Y. January 5, 2022 … PrestigePEO, one of the nation’s leading professional employer organizations (PEO), announced today its acquisition of StaffLink Outsourcing, LLC, a Sunrise, Florida-based PEO serving small businesses and their employees nationwide, with an emphasis on those across the Eastern seaboard. In particular, StaffLink Outsourcing has acquired a significant client base throughout Florida, Texas, the Carolinas, Georgia, and California.
Founded in 1997 by Chief Executive Officer Abram Finkelstein, StaffLink Outsourcing, a full-service PEO, provides a range of employee management and human resources (HR) solutions to small and medium-sized businesses (SMBs). The company has developed an expertise in providing human capital management services, which include, but are not limited to, HR support, payroll as well as benefits administration and workers’ compensation compliance, to various industries, with an expertise in serving the aviation sector. StaffLink Outsourcing has the people, processes, technology, and experience in place, all of which contribute to its role in helping provide PEO-focused solutions and services for its clients. Its staff includes a team of HR, risk, payroll, and benefit professionals who possess years of experience and provide best-practice information to clients. Together, PrestigePEO and StaffLink Outsourcing will bring a broader set of PEO services and solutions offering to SMBs nationwide.
“The acquisition of StaffLink Outsourcing marks another opportunity for PrestigePEO to expand throughout the country. StaffLink Outsourcing and PrestigePEO are extremely complementary entities and well-aligned for success. We are each entrepreneur founded and led, which is reflected in our management styles and corporate cultures. I have known Abram for many years, and we remained connected, most specifically through our involvement with the National Association of Professional Employer Organizations (NAPEO). I have always admired his management prowess, operational acumen, and the well-run organization he has built. We look forward to the impact the combined organization will have on SMBs nationwide,” noted Andrew Lubash, PrestigePEO founder and chief executive officer.
Finkelstein added: “This is truly a great fit for both StaffLink Outsourcing and PrestigePEO. The synergies between our two organizations and TriSpan is really compelling. We share similar backgrounds, approaches, and core values, making our corporate cultures a perfect fit. By partnering with PrestigePEO and leveraging the expertise and solutions portfolio of this new joint entity, SMBs will be well-armed with the necessary tools to renovate their businesses and improve their operations.”
Baudoin Lorans, partner of TriSpan, an investment firm which forged a partnership with PrestigePEO in early 2021, added: “We are delighted to welcome Abram as a shareholder in our partnership and the leadership role he will take on at PrestigePEO. Coming on the heels of our recent acquisition of PathGoal, a PEO based in Raleigh, N.C., this merger further solidifies PrestigePEO’s leadership role in the growing PEO space, in particular its presence along the Eastern seaboard. We will work closely with management to continue identifying other strategic acquisition candidates to strengthen PrestigePEO’s offerings and extend its services geographically.”
About StaffLink Outsourcing, LLC.
Sunrise-Fla.-based StaffLink Outsourcing, LLC. provides integrated HR support and solutions to SMBs. These include, among others, payroll services, HR management, time and attendance solutions, benefits administration, risk management workers’ compensation compliance and talent management support. StaffLink Outsourcing brings a flexible, white glove-approach to client service, tailoring solutions to the needs of its clients.
About TriSpan LLP and TriSpan (USA) LLC (collectively “TriSpan”)
Founded in 2015, TriSpan is a private equity firm with offices in London and New York. TriSpan invests in lower mid-cap companies in North America, Europe, and the United Kingdom with annual revenues typically ranging from $20-100 million and/or EBITDA of $2-20 million. The firm focuses on control investments in the growth and buy and build space, creating value by providing significant operational and M&A resources to help drive growth, synergies, and financial performance in its portfolio companies. Since inception, the firm has invested in 15 platforms totaling more than 50 companies. TriSpan is committed to implementing best social, governance and environmental practices out of conviction that this also helps drive better investment outcome. For more information on TriSpan, please visit www.trispanllp.com.
Melville, N.Y. based PrestigePEO, also known as Prestige Employee Administrators LLC, provides integrated, end-to-end human resources (HR) solutions to small and medium-sized businesses (SMBs) for managing all integral human resources operations. This includes support for employee benefits management, payroll administration, compliance, and HR guidance, among others. PrestigePEO’s full spectrum of HR services and solutions helps SMBs lower employee benefit costs, reduce administrative workloads, and manage critical HR functions.
PrestigePEO is among only one percent of PEOs accredited by the Employer Services Assurance Corporation (ESAC), certified (CI) through Workers Comp Risk Management and classified as a Certified Professional Employer Organization (CPEO) by the IRS – demonstrating financial stability and strict adherence with a diverse range of regulatory and security standards.