Human, Resource, TriNet, Assets, Outsource Group
Human resource firm TriNet acquires customer assets of Outsource Group
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TriNet, a US-wide provider of human resource (HR) outsourcing services for small and mid-sized companies, announced the purchase of the customer assets of Outsource Group, an HR services provider based in Walnut Creek, California. The transaction includes customer contracts for nearly 200 companies and also includes the rights to Outsource Group’s name and web site. In addition, certain employees of Outsource Group will become full-time team members of TriNet, adding to the company’s extensive industry experience and assisting with the company’s growth objectives. Specific terms of the transaction are not being disclosed.
“Outsource Group has provided a very high quality of HR outsourcing services to small and medium-sized companies since 1998, and transitioning our business to TriNet’s platform enables us to continue to offer superior service and technology support to our customers,” said Kevin Grauman, Outsource Group’s President and CEO. “I’m very enthusiastic that TriNet’s market presence, industry experience, and service-focus will greatly benefit our customers in California and across the country.”
TriNet has previously acquired the customer assets of the E3 Group in Texas, as well as books of business from ALTRES in Hawaii and HR Logic in Boston. TriNet also received a substantial investment from General Atlantic partners, a leading private equity firm with approximately $10 billion under management, in July of 2005.
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