prnewswire.com/news-releasesRICHFIELD, Ohio,
June 19, 2020 /PRNewswire/ --
Group Management Services Inc. announced today the acquisition of Corporate Business Solutions, a
Georgia-based Human Resources Outsourcing provider.CBS was founded more than 20 years ago as a third party 401(k) administrator, developing over time into handling a full array of HRO services. This acquisition will add about 70 clients and 3,500 worksite employees to GMS.As a Professional Employer Organization (PEO), GMS provides a suite of comprehensive HR solutions, allowing clients to focus on core business. These services include Payroll, Human Resources, Risk Management, and Benefits.Both organizations share an emphasis on giving their clients a competitive edge when it comes to the technology, service levels, and human resources they provide. This is evident in the fact that they share a 90-plus percent client retention rate, well over the industry average.Find out how PEOs help businesses:
https://www.groupmgmt.com/why-gms/education-center/what-is-a-peo/GMS started in the
Cleveland area in 1996, eventually expanding into
Columbus and
Cincinnati, and now have 10 offices nationwide. The acquisition of CBS will further extend their client base outside of
Ohio and increase their presence in the Southeast."We've been trying to expand our footprint outside of
Ohio and have been showing some success in the past five years," GMS President
Mike Kahoe said. "In 2014, we were 99 percent
Ohio-based. Today we are 90 percent
Ohio-based and this will move us closer to 80 percent, making us a more diverse company."CBS President
Jim Karle adds, "The acquisition by GMS will enable CBS to further deliver on its promise to provide our clients a wide array of quality insurance products that are affordably priced. Enhancing our clients' competitive edge has always been core to CBS – this accelerates our ability to do that for our many valued clients."GMS plans to continue their expansion and grow organically and through acquisitions moving forward. This is just the beginning of more to come.
About Group Management Services
GMS has partnered with more than 1,500 clients across the country, representing about 26,000 employees from 10 different locations throughout the United States. We enable those clients to outsource all their back-office functions the areas of payroll, human resources, risk management, and workers' compensation. For more information on GMS, visit: https://www.groupmgmt.com/about-us/.
The PEO Compass is a friendly convergence of professionals and friends in the PEO industry sharing insights, ideas and intelligence to make us all better.All writers specialize in Professional Employer Organization (PEO) business services such as Workers Compensation, Mergers & Acquisitions, Data Management, Employment Practices Liability (EPLI), Cyber Liability Insurance, Health Insurance, Occupational Accident Insurance, Business Insurance, Client Company, Casualty Insurance, Disability Insurance and more.To contact a PEO expert, please visit Libertate Insurance Services, LLC and RiskMD.
