Case study

MatrixOneSource has been acquired by GPB Capital Holdings, LLC

The shareholders of MatrixOneSource have sold the company to GPB Capital Holdings, LLC. Financial details have not been disclosed.

MatrixOneSource, founded in 1999 and based in Jacksonville, Florida, is a premier provider of professional employer organization (PEO) services to small and mid-sized diverse businesses throughout the state of Florida. The company serves approximately 700 clients who employ more than 7,000 professionals and offers a broad array of employment-related services consisting of complete payroll administration, safety and risk management, benefits administration, 401(k), tax compliance, unemployment services, and human resource consulting services.

GPB Capital is a New York-based asset management firm focusing on acquiring income producing companies. The firm provides their portfolio companies with the strategic planning, managerial insight and capital needed to enable strong businesses to achieve the next level of growth and profitability. GPB Capital has over US$1.5 billion in assets under management and has acquired or invested in more than 160 portfolio companies.

"We became a preferred provider of PEO services thanks to our dedication to unparalleled service and focus on our customers each day," said Bill Perez, CEO of MatrixOneSource. "We are thrilled to enter into this relationship with GPB Capital, who share our commitment to first-class client service and collaboration, and we are eager to work with the firm to enhance our operations and deliver PEO services to a greater number of businesses throughout the southeast and in additional geographies in the US."

Oaklins' team in Dallas crafted a plan to achieved the desired valuation and to identify the specific types of buyers with a strong interest and strategic alignment with MatrixOneSource. The team delivered three strong and competing offers and ultimately recommended a large investment firm who made its first entry into the PEO industry with this acquisition.

Tombstone image for MatrixOneSource has been acquired by GPB Capital Holdings, LLC

Key deal contacts

Neal England

United States

Managing Director

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Bradley S. Buttermore

United States

Managing Partner

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