Headway Workforce Solutions, a national provider of technology, process-driven human resources (HR) solutions, and staffing services, announced the sale of its wholly-owned subsidiary, PathGoal Employer Services, to PrestigePEO of New York.
Raleigh-based Headway Workforce Solutions founded PathGoal as a PEO (Professional Employment Organization) within its Employer of Record Division. Throughout its eight years in operation, PathGoal grew quickly and developed expertise in providing a range of PEO services such as employee benefits management, payroll administration, workers’ compliance, and HR guidance, among others, to small employers.
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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 that PathGoal as a PEO has built. At Headway, we have continued to divest ourselves of non-core assets and investments as we accelerate our growth into our CORE strategy of being a branchless national solutions provider for Employer of Record and Sector HR Solutions.”
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PrestigePEO is one of the nation’s largest professional employer organizations (PEO), providing integrated, end-to-end HR solutions to small and medium-sized businesses (SMBs). PathGoal will become a PrestigePEO company and remain an independent entity under the PrestigePEO umbrella. “This acquisition affords PrestigePEO the opportunity to introduce and broaden our service offering in North Carolina.” said Andrew Lubash, PrestigePEO founder and chief executive officer.
Adam Doman, PathGoal president, will remain with the company. Adam commented: “We are pleased to become part of a national PEO to bring our client base a broader offering. We remain grateful for the start-up expertise and growth guidance provided to us by Headway.”
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