512Financial, an Austin, Texas-based firm that provides business services on a fractional basis, acquired staffing firm AustinPeopleWorks.

The acquisition was announced on Jan. 8 and has taken effect, and the move allows for increased brand recognition and growth as well as access to new industries and markets, according to the company.

“One of the many reasons I’m excited about this expansion is to add recruiting and talent acquisition to our HR offering,” Bart Davis, CEO and co-founder of 512Financial, said in a press release. “It’s complementary to our existing services and a great additional value-add to our clients.”

AustinPeopleWorks has been in business for five years and serves 136 clients. It provides staffing in finance/accounting, sales, marketing and administrative roles.

Laurie Howell, founder and CEO of AustinPeopleWorkers, and her husband, Dave Oyer, will step back from the business to focus on personal and non-HR-related business projects. However, Howell will continue to consult and advise 512Financial for the foreseeable future.

The combined firm will be headquartered in Austin, and all AustinPeopleWorks client relationships will remain the same, the company said. Existing team members will continue to provide services.

Going forward, 512Financial’s services for businesses will include accounting and payroll management; finance services such as quality of earnings analysis; marketing, social media management and content strategy; and human resources, recruiting and talent acquisition.

Terms of the transaction were not announced.