Group Management Services Closes Acquisition of Alabama-Based Professional Employer Organization, Simpeo
RICHFIELD, Ohio, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Group Management Services, Inc. (GMS), a professional employer organization (PEO) headquartered in Richfield, OH, announced today it completed the acquisition of Alabama-based PEO, Simpeo. This serves as the company’s second acquisition in the last three months, its fourth since 2020.
Founded in 2018, Simpeo has quickly become a regionally-recognized brand and is known for its white-glove approach to professional services. Similar to GMS, Simpeo is also a Certified PEO (CPEO) by the Internal Revenue Service. Becoming and remaining certified as a PEO requires that a CPEO has met the most rigorous background, financial reporting, tax compliance, and bonding requirements as outlined by the program’s regulations. Currently, less than 50 of the nation’s 900+ PEOs are certified.
This acquisition lends a hand in GMS’ ongoing expansion and ever-growing nationwide footprint. Michael Kahoe, GMS’ Owner and President, shared, “We were particularly interested in Simpeo because their client-first mentality mirrors what we already champion at GMS. The acquisition is mutually beneficial for both companies and their clients. We look forward to continuing to blend these organizations and refining the client experience.”
Patrick Cooney, Co-Founder and President at Simpeo, remarked, “GMS is a well-known market leader whose brand is associated with excellence, we are extremely excited for Simpeo to join their family of companies.” Blake Patterson, Co-Founder and CEO at Simpeo, also shared, “We are excited to join GMS and have made plans to rapidly scale Simpeo’s operating footprint. The addition of GMS’ capabilities will enable us to service a broader segmentation of customers and improve value creation across all customers.”
Simpeo was represented by McHenry Consulting in this transaction.
About Group Management Services: Group Management Services is headquartered in Richfield, Ohio, and represents more than 2,500 companies with over 45,000 worksite employees. There are currently 21 offices located throughout the United States. Businesses can rely on our expertise in payroll, human resources, risk management, and benefits.
This content was issued through the press release distribution service at Newswire.com.