Canadian private equity firm Parallel49 Equity has acquired Questco LLC, a Houston, Texas-based professional employer organization. No financial terms were disclosed. Founded in 1989, Questco provides a range of outsourced human resource solutions, including payroll and tax administration, employee liability and risk management, employee benefits and training. It is Parallel49’s first disclosed platform investment since the firm’s launch in December following a rebranding of Tricor Pacific Capital‘s fifth fund. PE Hub Canada recently interviewed Parallel49 Managing Partner Brad Seaman and Managing Director Rob Wildeman.
Fund V Acquires Questco
Parallel49 Equity announces the acquisition of Questco, LLC (“Questco”). Based in Houston, Texas, Questco is a professional employer organization (“PEO”) that provides outsourced human resource solutions, allowing its small- and medium-sized customers to focus on growing their businesses. Among the company’s bundled services are payroll and tax administration, employee liability and risk management, employee benefits and human resources training and outsourced solutions. Questco provides world-class customer service, access to competitive benefits programs, streamlined payroll, efficient benefits and workers’ compensation administration, and best-in-class technology for payroll and HR information systems. Questco’s significant expertise ensures that its customers are compliant with complex employment laws and regulations.
Questco represents the fourth investment in Parallel49 Equity Fund V, which began making investments in 2014, and the 82nd acquisition over the last 20 years under the Parallel49 Equity brand and our previous brand, Tricor Pacific Capital.
Photo courtesy of Questco LLC