PrestigePEO Expands Southeast Presence with Acquisition of Teamwork Services

In a move that signals significant growth in the Professional Employer Organization (PEO) sector, PrestigePEO has announced its acquisition of Teamwork Services, Inc., a Georgia-based PEO. The transaction, completed on October 25, 2024, represents a strategic expansion of PrestigePEO's services and geographical reach, particularly in the Southeastern United States.

This acquisition is poised to have a substantial impact on the human resources industry, especially for small and medium-sized businesses (SMBs) in the region. By combining the strengths of both organizations, PrestigePEO aims to offer an enhanced suite of services, including Fortune 500-level employee benefits, compliance and risk management solutions, and comprehensive HR support to a broader client base.

Andy Lubash, CEO of PrestigePEO, emphasized the significance of this move, stating, "Bringing Teamwork Services into the PrestigePEO family represents an incredible opportunity to enhance our service delivery and expand our reach." This sentiment underscores the potential for improved HR solutions and support for businesses navigating the complexities of employee management and compliance.

The merger is expected to benefit not only direct clients but also benefits brokers in the Southeast, who will now have access to a more extensive network of HR services and solutions. This expanded offering could prove crucial for SMBs looking to compete effectively in an increasingly complex business environment.

Robyn Rusignuolo, COO of PrestigePEO, highlighted the strategic value of the acquisition, noting the alignment in company cultures and service standards. This synergy is expected to facilitate a smooth integration and enhance the overall service experience for clients of both organizations.

For HR professionals and business leaders, this development signals a trend towards consolidation and expansion in the PEO industry. It suggests that companies are seeking to broaden their service offerings and geographical presence to meet the evolving needs of SMBs. The acquisition may lead to more comprehensive and accessible HR solutions, potentially leveling the playing field for smaller businesses competing against larger corporations.

The integration of Teamwork Services into PrestigePEO also brings together decades of combined experience in the PEO industry. Teamwork Services, founded in 1989, has built a strong reputation for providing customized HR solutions across various industries. This expertise, combined with PrestigePEO's innovative approach and broader resource base, promises to deliver enhanced value to clients.

Pam Morris, President of Teamwork Services, expressed optimism about the merger, stating, "We are excited to join forces with PrestigePEO and bring expanded resources and benefits to our valued clients." This collaboration is expected to strengthen the support and expertise available to businesses, particularly in areas such as payroll management, HR consulting, and risk management.

For the HR industry at large, this acquisition may set a precedent for similar strategic moves, potentially spurring further consolidation and innovation in the PEO sector. It also highlights the growing importance of comprehensive HR solutions that can adapt to the changing needs of businesses in different regions.

As PrestigePEO expands its footprint in the Southeast, the move is likely to increase competition in the region's PEO market. This could potentially lead to improved service offerings and more competitive pricing for HR services, benefiting SMBs across various industries.

The acquisition of Teamwork Services by PrestigePEO represents a significant development in the PEO industry, with far-reaching implications for HR professionals, business leaders, and SMBs in the Southeastern United States. As the integration progresses, the industry will be watching closely to see how this expanded entity leverages its combined strengths to address the evolving HR needs of businesses in an increasingly complex regulatory and competitive landscape.