Oasis Outsourcing Gains Additional Private Equity Investor
WEST PALM BEACH, Fla., July 12, 2017-- Oasis Outsourcing, the nation's largest privately held Professional Employer Organization (PEO), is pleased to announce that Kelso & Company has purchased a significant interest in the company. Stone Point Capital remains the majority owner of the company, with the remainder owned by Oasis management.
Kelso has been investing in North American private equity for over 35 years. Since 1980, Kelso has raised a total of nine private equity funds, representing approximately $12 billion of capital, and has made over 120 investments, over 90 of which have been exited.
"I am delighted to add Kelso to our team. Being backed by two outstanding Private Equity partners will further enable us to continue to invest in our business, both organically and via strategic acquisitions," said Mark Perlberg, President and CEO of Oasis.
"Oasis has a great track record of growth, which has been fueled by innovative Human Resources solutions and a focus on delivering the highest level of client service. We are confident in their ability to drive even greater success in the days ahead," said Chris Collins, Investment Partner of Kelso.
"We are proud of the progress Oasis has made since our acquisition in December 2014. Investments in human capital management technology and service model infrastructure, along with the successful completion of four acquisitions, have resulted in double-digit worksite employee growth," said Darran Baird, Principal of Stone Point Capital. "We are pleased to partner with Kelso, who we have worked with successfully in the past."
The terms of the transaction were not disclosed. SunTrust Robinson Humphrey acted as M&A advisor to Kelso on the transaction.
About Oasis Outsourcing Holdings, Inc.
Oasis Outsourcing is a Florida-based Professional Employer Organization (PEO) serving almost 230,000 employees and 7,500 clients nationwide. Founded in 1996, it specializes in providing human resources services, employee benefits administration, payroll and tax administration, risk management services and staffing solutions to small- and medium-sized businesses throughout the United States. Oasis is accredited by the Employer Services Assurance Corporation (ESAC), ensuring the highest level of ethical, financial and operational standards in the PEO industry and has received SOC 1 Type II (formerly SAS 70) certification for its high level of accuracy and performance. Oasis, through its subsidiaries, is qualified to offer IRS-certified professional employer organization (CPEO) services.
Oasis is owned by private equity firms Stone Point Capital and Kelso with the remainder owned by Oasis management. Offices are located in Atlanta, GA; Austin, TX; Boca Raton, FL; Boston, MA; Charlotte, NC; Dallas, TX; Denver, CO; Edison, NJ; Houston, TX; Indianapolis, IN; Jacksonville, FL; Los Angeles, CA; Manhattan, NY; Miami, FL; Minneapolis, MN; Nashville, TN; New Haven, CT; Orlando, FL; Phoenix, AZ; Provo, UT; San Diego, CA; Sarasota, FL; St. Louis MO; Tampa, FL; Tucson, AZ; and West Palm Beach, FL. For more information about Oasis Outsourcing, visit www.oasisadvantage.com.
Laura Burns, 617-921-5969, firstname.lastname@example.org
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