The acquisition of Teamwork Services, Inc. by PrestigePEO marks a pivotal moment for the Professional Employer Organization (PEO) sector in the Southeastern United States. Completed on October 25, 2024, this merger not only expands PrestigePEO's geographical footprint but also enriches its service portfolio, offering small and medium-sized businesses (SMBs) in the region access to Fortune 500-level employee benefits and HR support.
This strategic move combines the strengths of two PEOs renowned for their client-centric approaches. PrestigePEO, based in Melville, NY, and Teamwork Services, a Brunswick, Georgia-based firm operating since 1989, together promise a more robust suite of services. Clients of both organizations stand to benefit from an expanded network of resources, including enhanced compliance and risk management solutions, more extensive HR support, and a wider array of employee benefits.
Andy Lubash, CEO of PrestigePEO, highlighted the acquisition's strategic importance, emphasizing the opportunity to enhance service delivery and expand reach. The merger is timely, addressing the increasingly complex HR challenges and regulatory environments businesses face today. Robyn Rusignuolo, COO of PrestigePEO, pointed out the synergies between the two companies, ensuring a smooth integration and continuity of service for existing clients.
From Teamwork Services' perspective, joining PrestigePEO offers its clients access to expanded resources and benefits. Pam Morris, President of Teamwork Services, expressed enthusiasm about the merger, noting the alignment in mission and the potential to bolster support for clients.
This acquisition has broader implications for the Southeast's business community, particularly SMBs, by leveling the playing field with access to sophisticated HR solutions. It also reflects the PEO industry's trend towards consolidation and the importance of scale and comprehensive service offerings. As PrestigePEO integrates Teamwork Services, the industry watches closely, anticipating how this merger will influence future PEO mergers and acquisitions, potentially reshaping HR outsourcing for SMBs nationwide.
