Morgan Stanley Global Private Equity Completes Majority Investment in CoAdvantage
October 08 2015 - 10:00AM
Business Wire
Morgan Stanley Global Private Equity (MSPE) announced today that
it has completed a majority investment in CoAdvantage, Inc., one of
North America’s largest professional employer organizations (PEOs).
MSPE partnered with the current management team who will remain in
place and continue to drive organic and acquisition growth.
CoAdvantage is a leading PEO that offers small and mid-sized
businesses a comprehensive package of outsourced human resources
solutions enabling them to reduce their administrative burden,
ensure compliance with employer regulations, and gain access to
affordable employee benefits. The company integrates payroll and
tax processing, employee benefit plan administration, risk
management, government compliance and other human resources
services into a single vendor solution that is extremely efficient
and effective. Headquartered in Tampa, Florida, CoAdvantage
services clients in all 50 states through multiple locations
nationwide, including Florida, Texas, Colorado, New Jersey, and New
York.
Aaron Sack, Managing Director of MSPE, said, “CoAdvantage is a
premier PEO in North America led by an impressive and deep
management team. PEOs are becoming increasingly vital to small and
mid-sized businesses that want to efficiently manage the growing
administrative and regulatory complexity while maintaining a strong
focus on their core operations.”
Jim Howland, Managing Director and Operating Partner of MSPE,
added, “We are delighted to partner with CoAdvantage. The company’s
talented executives and strong focus on clients have positioned
CoAdvantage as a leading player in the human resources outsourcing
industry. We look forward to supporting CoAdvantage’s impressive
organic and acquisition-fueled growth.”
Mike Maseda, Chief Executive Officer of CoAdvantage, said, “We
are excited to partner with Morgan Stanley Global Private Equity
and enter a new phase of growth to broaden our market presence and
enrich our customer experience. We are proud of the work already
accomplished and expect this new partnership to deliver significant
value as we build upon our strong foundation of operational
excellence and drive enhanced value to our customers.”
This investment is a continuation of MSPE’s human capital
management and business services focus and follows four previous
business services sector investments. These include Creative
Circle, a specialized staffing agency representing advertising,
creative, marketing, visual communication and digital/interactive
professionals; Access Cash, an independent service provider that
manages the largest network of ATMs in Canada; EmployBridge, a
leading provider of light commercial temporary staffing services in
the U.S.; and Zenith, a specialist provider of fleet solutions to
corporations in the United Kingdom.
Morgan Stanley Global Private Equity is a leading middle-market
private equity platform that has invested capital in a broad
spectrum of industries for over two decades. Global Private Equity
focuses on privately negotiated equity and equity-related
investments primarily in North America, as well as Europe and other
regions. Combining the talents of seasoned investment professionals
and experienced operating partners, the team creates value in
portfolio companies primarily through operational improvement.
Global Private Equity also leverages the brand and unparalleled
global network of Morgan Stanley to source investment intelligence
and opportunities. Global Private Equity is part of Morgan Stanley
Merchant Banking & Real Estate Investing.
Morgan Stanley Merchant Banking & Real Estate Investing
(MB&REI) is the Firm’s direct private investing group that puts
capital to work on behalf of a diverse client base, including
governments, institutions, corporations, and individuals worldwide.
Through its North Haven and Prime fund families, MB&REI employs
a consistent, proven value-creation approach across a full range of
strategies, including private equity, real assets, and credit. From
22 locations around the world, over 400 experienced professionals
with extensive private markets expertise and access to Morgan
Stanley’s global franchise provide an unparalleled network to
source investment intelligence and opportunities. MB&REI’s deep
resources include best-in-class reporting, operations, and risk
management, providing investors with a comprehensive approach to
disciplined investing.
Morgan Stanley (NYSE:MS) is a leading global financial services
firm providing a wide range of investment banking, securities,
wealth management and investment management services. With offices
in more than 43 countries, the Firm's employees serve clients
worldwide including corporations, governments, institutions and
individuals. For further information about Morgan Stanley, please
visit www.morganstanley.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20151008005312/en/
Morgan StanleyMedia RelationsMatt Burkhard, 212-761-2444
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