PrestigePEO, one of the nation’s largest professional employer organizations (PEO), announced its acquisition of PathGoal Employer Services, from Headway Workforce Solutions, a national provider of technology and process-driven human resources (HR) solutions and staffing services. Similar to Prestige, PathGoal is a PEO providing integrated, end-to-end HR solutions to small and medium-sized businesses (SMBs).
PathGoal was founded by Raleigh-based Headway Workforce Solutions within its Employer of Record Division. Throughout its eight years in operation, PathGoal developed an expertise in providing a range of PEO services such as employee benefits management, payroll administration, workers’ compliance, and HR guidance, among others. PrestigePEO will bring a broader PEO services and solutions offering to SMBs throughout the Raleigh, North Carolina area as well as statewide.
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Effective August 16, 2021, PathGoal became a wholly owned subsidiary under the PrestigePEO umbrella. PrestigePEO will bring its extensive service offering and enhanced technology platforms to PathGoal clients. The PrestigePEO vision is to invest in PathGoal’s workforce, infrastructure and benefits and expand the resources available to SMBs in the Southeast region.
“This acquisition affords PrestigePEO the opportunity to introduce our services and broaden our service offering in North Carolina SMBs. PEOs have gained significant traction over the past few years as SMBs increased their outsourcing of the types of HR administrative services we provide, including, but not limited to, HR support, employee benefits management, payroll administration and compliance. We will look to grow our brand statewide with our integration with PathGoal,” said Andrew Lubash, PrestigePEO founder and chief executive officer.
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Baudoin Lorans, partner of TriSpan, an investment firm which forged a partnership with PrestigePEO in early 2021, added: “One of the goals we set for PrestigePEO earlier this year was to develop the Company’s footprint and create local penetration in markets with strong SMB presence. The acquisition of PathGoal meets that criterion and will complement PrestigePEO’s growing business. We will continue to identify strategic acquisitions that will allow us to further strengthen PrestigePEO’s core expertise and business.”
Adam Doman, PathGoal president, will remain with the company. He also commented: “We decided to partner with an established national PEO to bring our client base a broader offering. In short, PrestigePEO fits that bill. Since its founding, PrestigePEO quickly grew and has since evolved into one of the nation’s top PEOs, based on its breadth, depth, and unparalleled client service. Together, we can deliver a complementary menu of services to clients throughout Raleigh/Durham and North Carolina, which will prove beneficial to all stakeholders.”
Headway Workforce Solutions’ Executive Chairman J.P. Sakey said: “We retained TransAct Capital as our financial advisor and conducted a national search before determining that PrestigePEO and its primary investor, TriSpan, were the right partners for PathGoal. Together, they can capitalize on the solid business foundation and regional brand name PathGoal built to accelerate its growth. PathGoal and PrestigePEO share many synergies and combining them under the new PrestigePEO umbrella will significantly strengthen the PathGoal offering.”
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