TriNet, which is backed by General Atlantic, has closed its buy of Ambrose Employer Group. Financial terms weren’t announced. New York-based Ambrose provides HR services to emerging financial and professional services organizations, with a primary concentration on hedge funds and private equity firms.
TriNet, the leading provider of cloud-based products and HR consulting services for small businesses, today announced it has closed the acquisition of Ambrose Employer Group. Ambrose is a New York City-based Professional Employer Organization (PEO) focused on delivering high-touch HR services to emerging financial and professional services organizations, with a primary concentration on hedge funds and private equity firms. The acquisition accelerates TriNet’s vertical market growth strategy through Ambrose’s strong position in the high end financial and professional services markets and further bolsters TriNet’s position in the metropolitan New York area. The combination of TriNet and Ambrose brings unparalleled human capital consulting and superior products to industries that require a premium and highly personalized client service model for employees.
TriNet will continue to sell and support the Ambrose product. TriNet will enhance Ambrose’s offering with industry-leading technology to supplement the company’s best-in-class service model. Extending TriNet’s portfolio further supports the company’s strategy to provide distinct products and services to most effectively address the specific needs of small businesses across America. Ambrose’s team will join TriNet, and clients of both organizations will see a continuity of the high-quality service levels they expect.
“Ambrose’s success has been driven by our unwavering focus on delivering high-quality service to our great clients for HR administration, payroll and employee benefits,” said Greg Slamowitz, co-founder and co-CEO at Ambrose. “We are thrilled to join forces with TriNet, a company that shares our philosophy of a vertical go-to-market strategy and products aligned to the industry-specific needs of businesses.”
“TriNet’s broad reach and extensive resources will enhance Ambrose’s capabilities in serving the needs of its niche clientele,” adds John Iorillo, co-founder and co-CEO at Ambrose.
TriNet is expanding at a significant rate through both organic growth and acquisitions. The Ambrose transaction follows the high impact acquisition of Strategic Outsourcing, Inc. (SOI) in October 2012. TriNet is passionate about strategically partnering with small businesses across America and understands that companies’ specific requirements vary based on their industry and market. TriNet’s acquisitions give the company a potent arsenal of products that are tailored to effectively address the disparate needs of its clients. TriNet serves more than 200,000 worksite employees (WSEs) across a broad spectrum of industries.
“Small businesses fuel the American economy. TriNet is laser-focused on helping these small businesses hire and retain great employees through exceptional HR, payroll and benefits, so that these businesses can concentrate on the critical drivers for achieving their visions,” said Burton M. Goldfield, president and CEO at TriNet. “We are keenly aware that small businesses don’t all have the same needs. We are addressing this with a comprehensive vertical market strategy and products aligned to the unique requirements of our prospects and clients. We are pleased to come together with Ambrose and add its outstanding product to our suite. We are deeply committed to the financial and professional services sectors and know firsthand from the market that Ambrose delivers the high-quality service that employees in those industries require.”
Ambrose was founded in 1997 and is known for its high-touch service model for delivering premium HR, payroll and employee benefits to great small companies. The combination with TriNet will enable Ambrose to increase its sales coverage and accelerate the pace at which it can enhance its products and services.
TriNet is a trusted strategic HR partner to small and mid-sized businesses, providing critical HR-related services on an outsourced basis. TriNet solutions help contain costs, minimize employer-related risks, and relieve administrative burden to keep an entrepreneur’s focus on their core business functions. From employee benefits and payroll processing to high-level human capital consulting, TriNet’s Professional Employer Organization (PEO) expertise and best in class systems relieve clients of many of the day to day administrative burdens that distract them from building and growing their businesses. TriNet specializes in serving fast-moving companies in fields such as technology and financial services, who recognize that top-quality employees are the most critical competitive asset. For more information, please visit http://www.trinet.com.
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