As of Aug. 21, Paychex, a premiere human capital management solutions provider for various businesses, is acquiring HR Outsourcing Holdings Inc. (HROI) and its operating subsidiaries.
Paychex is already a leading HR service, serving small and medium businesses in over 35 states with about 605,000 payroll clients. With the acquisition of the Charlotte, North Carolina-based national professional employer organization (PEO), Paychex will experience significant growth in the HR solutions department.
"This acquisition represents Paychex's continued focus on growth – both in revenue and in PEO solutions for our clients. The combination of Paychex's experience, knowledge, and resources with the experience and fast-paced growth of HROI positions us to have an even stronger presence in the industry," Martin Mucci, Paychex president and CEO, said.
Paychex has been in the PEO business for over 20 years. The company was one of the first of its kind to receive a new IRS certification in June.
"We are excited about the HROI team joining the Paychex family," Mucci said. "We have a shared commitment to the PEO business, and to providing human resource solutions, and we will maximize our opportunities in the marketplace while continuing to provide exceptional service to our combined client bases."