General Employment Enterprises makes acquisition
Pivot operates three specific brands: Employment Edge, an employment support platform for small to mid-sized companies Staff Systems, a private-label, back-office support platform for staffing companies and Nextaff, a franchised, branded back-office support platform for staffing companies. Financial terms were not disclosed.
This acquisition will enable General Employment to enhance its traditional staffing products with other non-traditional offerings allowing the company to offer a complete suite of products and services for corporate clients and staffing companies alike.
Offerings now include:
• Professional employer organization, business process outsourcing and human resources outsourcing, which collectively provide benefits, management/administration, payroll and tax processing, risk management, human resources, technology, insurance, compliance management, payroll financing and group purchasing to small-group businesses that are looking to benefit from larger scale, cooperative based pricing and efficiencies and
• Private label back office enabling the administration and management of tax processing, workers compensation claims, unemployment claims, and payroll financing.
Andrew Norstrud, Chief Executive Officer of General Employment Enterprises, commented: “Integrating Pivot will allow General Employment to achieve the long-standing company goal of becoming an all-encompassing workforce strategies provider. In Pivot, we saw unique opportunities in their offerings and management team to create a platform for further organic growth and the opportunity for strategic acquisitions that will even further boost our offerings to the marketplace.” Mr. Norstrud also commented: “The staffing industry is highly fragmented and primed for consolidation and the addition of Staff Systems will provide us the onboarding platform to quickly integrate future acquisitions and provide a unique solution to acquisitions candidates that are unqualified based on our strict acquisition guidelines.”
Cary Daniel, Chief Executive Officer and Owner of Pivot, commented: “General Employment possesses decades of experience and unique offerings in the staffing industry. Together with Pivot, we will build on that experience, solidify existing revenue streams, and seek new opportunities for growth.”
Pivot Employment Platforms has approximately 2,000 employees throughout 22 states on assignment at peak periods, 200 active and diverse end-user customers, more than 30 staffing professionals working in 10 locations, and a combined payroll of approximately $50 million throughout the United States.