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HR Outsourcing buys PEO Fortune Financial

January 06, 2016

HR Outsourcing Holdings, Inc., a professional employer organization and administrative services organization based in Lawrenceville, Ga., acquired Florida-based PEO Fortune Financial Inc.

The transaction closed Dec. 29.

HROI is a portfolio company of Clarion Capital Partners LLC, a New York-based, middle-market private equity firm. It is led by Carl Guidice Jr. and Anthony Danon, the former CEO and COO of Strategic Outsourcing Inc., also a former Clarion portfolio company.

“The acquisition of Fortune significantly augments HROI’s existing PEO operations and provides the combined company with a scalable platform for continued expansion,” said Jon Haas, managing director at Clarion. “HROI also will continue to consider additional acquisitions.”

The company will have offices in Florida, Georgia, Texas, California, New York, North Carolina, Kansas and Ohio.  The combined entity will have more than 25,000 worksite employees and more than 750 clients.

“Fortune’s team has done an excellent job driving growth and building a company with outstanding customer service and industry leading vendors,” said HROI CEO Carl Guidice. “We are excited to continue Fortune’s success.”