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GPB Capital Enters Business Services Market with Acquisition of MatrixOneSource.

M2 EQUITYBITES-January 22, 2018-GPB Capital Enters Business Services Market with Acquisition of MatrixOneSource


22 January 2018 - New York, US-based alternative asset management firm GPB Capital Holdings, LLC has completed the acquisition of a majority ownership stake in Florida, US-based professional employer organisation services provider MatrixOneSource to establish PEO platform in Southeast US, the company said.

Terms of the transaction were not disclosed.

The acquisition represents GPB Capital's first foray into the business services sector.

GPB Capital said it will provide capital as well as strategic and operational assistance to help Matrix expand its presence in the Southeast and other areas of the United States.

The investment in MatrixOneSource, creates a PEO platform in the Southeast into which the firm can integrate tuck-in acquisitions going forward. The combination of GPB Capital and MatrixOneSource will create a regional PEO platform, which can offer human resources and administrative services to small and medium sized, growth-focussed companies.

GPB Capital Holdings, LLC focusses on acquiring income producing companies. GPB Capital has over USD 1.5bn in assets under management and has acquired or invested in more than 160 portfolio companies.

Matrix provides payroll administration, safety and risk management, benefits administration, tax compliance, unemployment, 401(K) plan, human resource consulting and other PEO services to over 700 companies.

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Publication:M2 EquityBites (EQB)
Date:Jan 22, 2018
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