CoAdvantage Acquired by Aquiline Partners

Congratulations to Clint and his team --- More private equity enters the PEO space in a big way.

CoAdvantage to Be Acquired by Aquiline Capital Partners from Morgan Stanley Capital Partners

CoAdvantage, the privately held professional employer organizations (PEO) and a leading national provider of strategic human resource (HR) solutions for small to mid-sized companies, announced today a definitive agreement to be acquired by Aquiline Capital Partners, a private equity firm investing in financial services and technology. CoAdvantage is being acquired from investment funds managed by Morgan Stanley Capital Partners (MSCP), which have owned the company since 2015. No financial terms of the transaction were disclosed.Founded in 1990, CoAdvantage offers a comprehensive HR outsourcing offering for small and medium-sized businesses. With proprietary technology and client-dedicated support specialists, CoAdvantage assumes the risk, administration, and compliance associated with a range of functions including payroll, tax filings, healthcare, and ancillary benefits, and workers compensation. With its strong sales momentum and integration of recent acquisitions, the company now serves more than 4,500 clients and plans to continue its strategy during its partnership with Aquiline.HR News: 

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“Aquiline Capital Partners has expertise in the insurance, benefits and Human Resources administration industries that will be valuable to our business as we continue executing our growth strategy while maintaining the company’s independence,” stated Clint Burgess, President & CEO of CoAdvantage. “CoAdvantage has benefitted immensely from Morgan Stanley Capital Partners’ support over the years, and they have helped to position our company for ongoing success. We sincerely thank them for their partnership in strengthening the business.”CoAdvantage has become one of the largest private PEOs in North America through organic growth and an established approach to integrating acquisitions. Since 2015, the company completed three acquisitions including Progressive Employer Management Services Company in 2017, which significantly transformed its scale and capabilities.The management team, led by Mr. Burgess, will remain in place following completion of the transaction. Completion of the transaction is subject to customary closing conditions, including regulatory approvals.

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