Professional Employer Organization (PEO) PrestigePEO has acquired Concurrent HRO, a Colorado-based PEO, marking its fifth strategic acquisition to date. The transaction aims to broaden PrestigePEO's national footprint and improve service delivery for businesses in the Midwest and Mountain regions.
The acquisition represents a strategic alignment between two organizations with similar business models and broker-friendly growth strategies. By combining their resources, PrestigePEO intends to provide enhanced HR technology, expanded compliance support, and premium employee benefits experiences to clients.
Andrew Lubash, PrestigePEO's Founder and CEO, emphasized the significance of the merger, stating that the acquisition builds upon Concurrent HRO's established foundation while offering clients and brokers expanded resources. Critically, Concurrent HRO's existing team will remain in place, ensuring operational continuity and maintaining the personalized service approach that clients have come to expect.
The strategic move underscores PrestigePEO's commitment to growth and innovation in the professional employer organization sector. By integrating Concurrent HRO's strengths, the company aims to create new opportunities for brokers, clients, and employees across key market segments.
This acquisition signals continued consolidation within the PEO industry, highlighting the importance of scale, technological capabilities, and regional expertise in delivering comprehensive HR solutions to businesses of varying sizes.
