In a significant move that reshapes the Professional Employer Organization (PEO) landscape in the Southeastern United States, PrestigePEO has announced its acquisition of Teamwork Services, Inc., a Brunswick, Georgia-based PEO. The transaction, completed on October 25, 2024, marks a strategic expansion for PrestigePEO, enhancing its geographical footprint and service offerings.
This acquisition is poised to have a substantial impact on small and medium-sized businesses (SMBs) in the region, as it combines the strengths of two established PEOs known for their client-centric approaches and innovative HR solutions. PrestigePEO, headquartered in Melville, NY, has built a reputation for providing Fortune 500-level employee benefits and comprehensive HR support to SMBs nationwide. With the integration of Teamwork Services, which has been operating since 1989, PrestigePEO is set to offer an even more robust suite of services to a broader client base.
The merger is expected to benefit clients of both organizations by providing access to an expanded network of resources, including enhanced compliance and risk management solutions, more extensive HR support, and a wider array of employee benefits. This consolidation of expertise and resources comes at a crucial time when businesses are facing increasingly complex HR challenges and regulatory environments.
Andy Lubash, CEO of PrestigePEO, emphasized the strategic importance of the acquisition, stating, ‘Bringing Teamwork Services into the PrestigePEO family represents an incredible opportunity to enhance our service delivery and expand our reach.’ He further noted that the shared commitment to premium benefits and personalized service would enable the company to make a significant difference for businesses and broker partners across the Southeast.
The acquisition also aligns with broader industry trends of consolidation and expansion in the PEO sector, as companies seek to achieve economies of scale and extend their market presence. For PrestigePEO, this move strengthens its position as a leading national PEO, capable of serving a diverse range of industries with tailored HR solutions.
Robyn Rusignuolo, COO of PrestigePEO, highlighted the synergies between the two companies, noting the match in leadership and service excellence. This alignment is expected to facilitate a smooth integration process and ensure continuity of service for existing clients of both organizations.
From Teamwork Services’ perspective, the acquisition provides an opportunity to offer expanded resources and benefits to its longstanding client base. Pam Morris, President of Teamwork Services, expressed enthusiasm about joining forces with PrestigePEO, citing the alignment in mission and the potential to strengthen support and expertise for clients.
The impact of this acquisition extends beyond the immediate client base of both companies. It has implications for the broader business community in the Southeast, particularly for SMBs that may now have access to more sophisticated HR and benefits solutions typically reserved for larger corporations. This leveling of the playing field could potentially enhance the competitiveness and growth potential of smaller businesses in the region.
For the PEO industry as a whole, this acquisition signals ongoing consolidation and the increasing importance of scale and comprehensive service offerings. It may prompt other PEOs to consider similar strategic moves to remain competitive in a market where businesses are seeking ever more comprehensive and integrated HR solutions.
As PrestigePEO integrates Teamwork Services into its operations, the industry will be watching closely to see how this expanded entity leverages its combined strengths to serve the evolving needs of SMBs. The success of this acquisition could set a benchmark for future mergers and acquisitions in the PEO space, potentially reshaping the landscape of HR outsourcing and support services for small and medium-sized businesses across the United States.
This news story relied on a press release distributed by News Direct. Blockchain Registration, Verification & Enhancement provided by NewsRamp™. The source URL for this press release is PrestigePEO Expands Southeast Presence with Acquisition of Teamwork Services.