#United States #New York #Aquiline #CoAdvantage #PrimePay

CoAdvantage and PrimePay Merger Announcement

In a significant move within the human resources landscape, CoAdvantage and PrimePay, both portfolio companies of the investment firm Aquiline, have announced their strategic merger. This partnership is set to revolutionize the delivery of human capital management (HCM) solutions specifically tailored to small and mid-sized businesses.

The merger combines CoAdvantage, a well-respected Professional Employer Organization (PEO), which offers a comprehensive package of outsourced HR services, with PrimePay, a robust payroll and HR software provider. Together, they aim to merge their strengths and resources, thereby creating a unique suite of solutions that cater to the evolving needs of businesses in today’s challenging environment.

A Union of Strengths

The merger combines the best practices from both organizations, allowing them to offer a more extensive range of payroll and HR services. Such integration means that clients can choose between standalone payroll services or a fully outsourced HR solution, enhancing flexibility and control over their operations. Both companies have recognized the necessity for businesses to adapt as they grow, and this partnership promises to enhance the customer experience as they navigate through various stages of their business lifecycle.

Joe Pappalardo, a Partner at Aquiline, stated, “At the heart of this combination is recognition that the needs of our customers across both companies regularly change as they grow and meet new challenges.” This insight underscores the commitment to delivering superior service levels, as the merged entity will be in a stronger position to support clients during transformative phases.

Expanding Market Reach

This merger extends far beyond merely combining two entities. CoAdvantage will significantly broaden its market presence while gaining access to PrimePay’s established partnerships and customer base. This synergy reflects a mutual dedication to innovation, particularly within technology and advisory services—two areas accelerating in importance amid rapid changes in business practices.

Moreover, this union creates ample opportunities for shared investments in product development. By leveraging their combined expertise in technology, the partnership aims to enhance integration and introduce AI capabilities within their offerings. This evolution is geared toward providing a more seamless user interface and overall experience for their clients.

Driving Forward

While operations may continue independently for the present, the strategic merger is set to close by mid-2025. Leaders from both organizations express excitement about the future and the potential benefits this merger holds for their customers. John Cumbee, CEO of CoAdvantage, expressed optimism regarding the opportunities this merger will yield, stating, “We are thrilled to work with the PrimePay team and excited for the opportunities this merger will create for our customers and their employees.”

The integration of CoAdvantage's innovative CoAdQuantum technology with PrimePay’s established platform is expected to foster the development of a best-in-class HR and payroll service platform.

Conclusion

The merger between CoAdvantage and PrimePay marks a new chapter for both companies as they unite to cater to the HR needs of small and mid-sized businesses. As they blend their resources and expertise, the potential to create a differentiated and compelling suite of services is vast. With progressive technology solutions and a commitment to easing the operational burdens of their clients, the future looks bright for both entities.

For additional information and updates, resources are available on the respective websites of CoAdvantage and PrimePay.