Achilles Group, a Houston, Texas-based provider of outsourced HR services for small businesses, has raised $2.5 million in Series A funding. Participants include Ephor Group and First Analysis.
PRESS RELEASE
Achilles Group, a provider of outsourced HR services focused on providing Fortune 500 HR expertise to small businesses, announced today the closing of $2.5 M Series A growth financing to expand services and locations across the southern U.S.
Achilles Group delivers HR services that align with client's goals of improving manager and employee performance and mitigating employee related risks for more than 17,000 client employees located across 30 states. Typically, small businesses have the HR basics covered; but they turn to Achilles Group for Fortune 500 HR expertise and support needed to achieve their business objectives.
Houston-based Ephor Group and First Analysis of Chicago are co-funding the growth financing. Ephor Group, with a long track record of working with outsourcing businesses, will provide advisory services and growth capabilities to ensure Achilles Group executes and is the leading provider of HR outsourcing services to small businesses in the U.S. “Achilles Group attracted institutional investment due to their proven ability to support their customer initiatives with their unique Shared Services model and domain expertise,” said Garry Meier, Ephor Group founder and new Achilles Group chairman.
First Analysis, a research and investment private equity firm, will add its industry expertise and service. “Achilles Group uniquely offers small businesses strategic HR at an affordable price,” said Jim Macdonald of First Analysis. “They have a compelling business model that has been proven for not only service-based businesses, but also for manufacturing, retail, distribution, and technology businesses. The new capital will be used to expand Achilles Group's business model into new markets providing clients with more robust services, training, technology, and consulting services.”
Achilles Group was established in 2002 by partners JP Magill, Bill Bradshaw and Arch Payne with a vision to provide enterprise-level HR through a Shared Services model to small businesses at an affordable price with premium expertise. “Our goal from day one was to help small businesses,” said JP Magill, co-founder and president. “As we expand, the partnership with Ephor Group and First Analysis will enable us to provide holistic HR management services to improve our client's business performance. Very simply, we handle HR so executives and managers can run their business”.
In 2007, the Houston Business Journal named Achilles Group the 27th fastest growing company in
About Achilles Group
Achilles Group ( http://www.achillesgroup.com ) becomes the HR Director for small and mid-sized businesses with 25-2,000 employees. Through a Shared Services model, Achilles Group provides human capital expertise for about half the cost of hiring an internal HR director. Typical clients include executives looking for an alternative to building an HR department and companies outgrowing their current HR capabilities. Started in 2002, Achilles Group provides strategic HR services in support of business goals for more than 17,000 client employees in over 30 states.
About Ephor Group ( http://www.ephorgroup.com ) Ephor Group increases valuation for mid-market technology and service businesses. It's approach is proven, pragmatic, and performance oriented and uses the Perform Business Process(TM) methodology, which fills in the gaps where functional expertise and capital are constraining the business. Ephor has a long track record for creating intense wealth for founders, executives, and investors.
About First Analysis
First Analysis ( http://www.firstanalysis.com) is a leading private growth- equity investor. It has one of the longest records (20 years) in private capital investing. It has invested over $645 million, has created over $1.5 billion in fund liquidations, and has over $240 million in active portfolio investments. First Analysis focuses on its three sectors of expertise: outsourced services, information technology, and chemistry-enabled businesses. First Analysis invests for expansion and growth in small and mid-size companies with established business models, high internal growth rates, and large-market leadership potential.
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