Morneau Shepell Inc (TSX: MSI), a Canadian provider of human resources consulting and technology, has wrapped up its acquisition of the U.S. health and welfare benefits administration business of Ceridian Corp. The financial terms of the previously-announced deal were not released. Ceridian has been backed by U.S. private equity firm Thomas H. Lee Partners and other investors since 2007.
Morneau Shepell completes acquisition of Ceridian’s U.S. health and benefits administration business
TORONTO, Aug. 4, 2015 /CNW/ – Morneau Shepell, (the “Company” or “Morneau Shepell”) (TSX: MSI), a leading North American provider of human resources consulting and technology, today announced that it has completed the acquisition of the U.S. health and welfare benefits administration business of Ceridian.
“As one of the largest benefits administration providers in the U.S., this acquisition reaffirms our commitment to grow our operations and service offering in this highly important market,” said Jared Kesler Smith, Senior Vice President, Business Development, U.S. Region, Morneau Shepell. “Our people are integral to our business. As a result of this deal, we are thrilled to welcome a talented team of professionals who will help drive our continued growth and meet the unique and ever-evolving needs of our customers.”
More than 100 highly experienced benefits administration professionals from Ceridian have joined Morneau Shepell. Sixty-five Ceridian clients, ranging from small businesses with several hundred employees to businesses with very large employee bases, will see their services continued uninterrupted under the Morneau Shepell banner. These clients will continue to work with the same team members who know them, their business and their needs.
In addition to the existing Morneau Shepell offices in the United States, this transaction will extend the Company’s U.S. presence by adding offices in St. Petersburg and Salt Lake City.
Morneau Shepell is a North American leader in health and benefits administration consulting and services. In June of this year, Morneau Shepell was named one of the top five defined benefit pension plan providers in the U.S. by PLANSPONSOR magazine. In 2012, Morneau Shepell acquired U.S.-based SBC Systems to enhance its Benefits Administration platform (the Ariel™ system).
About Morneau Shepell Inc.
Morneau Shepell is the only human resources consulting and technology company that takes an integrative approach to employee assistance, health, benefits and retirement needs. The Company is the leading provider of employee and family assistance programs, as well as the largest administrator of retirement and benefits plans and the largest provider of integrated absence management solutions in Canada. Through health and productivity, administrative, and retirement solutions, Morneau Shepell helps clients reduce costs, increase employee productivity and improve their competitive position. Established in 1966, Morneau Shepell serves approximately 20,000 clients, ranging from small businesses to some of the largest corporations and associations in North America. With almost 4,000 employees in offices across North America, Morneau Shepell provides services to organizations across Canada, in the United States, and around the globe. Morneau Shepell is a publicly-traded company on the Toronto Stock Exchange (TSX: MSI). For more information, visit morneaushepell.com.
SOURCE Morneau Shepell – Corporate
For further information: Heather MacDonald, Kaiser Lachance Communications, 647.725.2520 x207, firstname.lastname@example.org; Cathren Ronberg, Morneau Shepell, 416.355.5632, email@example.com
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