PrestigePEO Expands Southeast Presence with Acquisition of Teamwork Services

In a move that signals significant growth in the Professional Employer Organization (PEO) industry, PrestigePEO has announced its acquisition of Teamwork Services, Inc., a Brunswick, Georgia-based PEO. The strategic transaction, completed on October 25, 2024, positions PrestigePEO to strengthen its market presence in the Southeastern United States and broaden its service offerings to small and medium-sized businesses (SMBs).

This acquisition represents a pivotal development in the PEO sector, as it combines the strengths of two established organizations known for their client-centric approaches and innovative HR solutions. PrestigePEO, headquartered in Melville, NY, has been recognized as a leading provider of comprehensive HR solutions, compliance guidance, and Fortune 500-level benefits to SMBs. By integrating Teamwork Services, which has been operating since 1989, PrestigePEO is set to leverage decades of combined expertise to enhance its service delivery across a wider geographic area.

The implications of this merger extend beyond the immediate benefits to the companies involved. For small and medium-sized businesses in the Southeast, this acquisition promises access to an expanded suite of HR services and benefits typically associated with larger corporations. This level of support can be crucial for SMBs looking to scale their operations and compete more effectively in an increasingly complex business environment.

Andy Lubash, CEO of PrestigePEO, emphasized the strategic importance of the acquisition, stating that it represents an opportunity to make a meaningful difference for businesses and broker partners across the Southeast. This sentiment underscores the potential impact on the regional economy, as improved HR support and benefits can contribute to the growth and stability of local businesses.

The merger also reflects broader trends in the PEO industry towards consolidation and expansion of service offerings. As regulatory complexities and the demands of workforce management continue to evolve, PEOs are increasingly seen as valuable partners for businesses looking to outsource HR functions and access better benefits packages. This acquisition positions PrestigePEO to meet these growing demands more effectively.

For the HR technology and services sector, this move signals continued investment and growth potential. The ability of PEOs to provide comprehensive HR solutions, including payroll management, compliance guidance, and risk management, is becoming increasingly attractive to businesses seeking to streamline their operations and focus on core competencies.

The integration of Teamwork Services into PrestigePEO is expected to be seamless, with both companies sharing a commitment to personalized service and deep industry expertise. Pam Morris, President of Teamwork Services, expressed enthusiasm about the merger, highlighting the expanded resources and benefits that will now be available to their clients.

As the business landscape continues to evolve, particularly in light of recent economic challenges and changing workforce dynamics, the role of PEOs in supporting SMBs is likely to grow. This acquisition positions PrestigePEO at the forefront of this trend, equipped to offer enhanced services and support to a broader client base.

The impact of this acquisition will be closely watched by industry observers, as it may set a precedent for further consolidation in the PEO sector. For businesses in the Southeast and beyond, it represents an opportunity to access improved HR services and benefits, potentially leveling the playing field with larger competitors and contributing to regional economic growth.