Ceridian Corp., an HR services provider taken private last year by Thomas H. Lee Partners and Fidelity National Financial, has acquired certain assets of COLT Express Outsourcing Inc., a Walnut Creek, Calif.-based benefits administration outsourcing company. No financial terms were disclosed.
Ceridian, a leading provider of employee benefits services, announced today it acquired certain assets of COLT Express Outsourcing, Inc., a California-based benefits administration outsourcing company.
Under terms of the agreement, Ceridian Benefits Services, as part of Ceridian, will provide full benefits administration and communications to COLT's employer clients, using its well-established systems to bring greater efficiencies and offer enhanced capabilities. Included are health and welfare services, COBRA/HIPAA continuation services, Flexible Spending Account management and commuter administration services.
Terms of the transaction were not discussed.
“Acquiring the business of a quality company like COLT continues Ceridian's expansion into the benefits marketplace,” said Matthew Claus, vice president, Business Development, for Ceridian. “It shows our continued commitment to provide world-class solutions to companies who choose to focus on the core aspects of their businesses.”
“This transaction allows our customers an enhanced outsourcing experience and the ability to add additional services as the need arises,” said Samuel Colt, owner of COLT. “They'll also continue to receive the individual attention from Ceridian they've come to depend on.”
Ceridian is an innovative provider of managed human resource solutions to 116,000 businesses worldwide and more than 25 million employees, with more than 75 years' experience.
Ceridian Corp. is a business services company that helps its customers maximize the power of their people, lower their costs and focus on what they do best. The company's suite of innovative managed human resource solutions includes payroll and compensation, employee benefits administration, staffing, compliance, HR administration and Employee Assistance Programs (EAP), work-life and health and productivity solutions. Ceridian serves businesses and employees in the
COLT provides an extensive array of brokerage management and administrative services to clients. Visit www.coltbenefits.com for more information.