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TriNet Acquires HR Outsourcing Provider LMC Resources, Inc.
Leading Professional Employer Organization Substantially Increases its Customer Base and Strategically Expands Growing Presence in Colorado Market
SAN LEANDRO, Calif. (April 16, 2008) - TriNet, a nationwide provider of human resources outsourcing services for small and medium-sized companies, today announced the next stage of its growth and expansion strategy by signing a definitive agreement to acquire the customer and other assets from LMC Resources, Inc., a Professional Employer Organization (PEO) based in Denver, Colorado. With this transaction, TriNet continues its strategy to augment the substantial organic growth it has experienced with acquisitions that strategically expand its customer base.
LMC Resources brings TriNet new customers representing more than 2,000 serviced employees. These companies will benefit from TriNet’s 20-year track record of success, as well as quickly gain from a comprehensive employee benefits and payroll offering, enhanced human capital management support, a suite of comprehensive business intelligence and reporting tools, an online university for training and developmental needs, and the multitude of features offered via HR Passport™, TriNet’s secure, self-service portal. The financial details of the transaction are not being disclosed.
“We are proud of what LMC Resources has accomplished over the years and see this integration with TriNet as an opportunity to step up our service level and technology support to our customers,” said Richard Lang, President and CEO of LMC Resources. “Our customers will be equally impressed with how LMC’s joining forces with TriNet will benefit them in a variety of strategic ways. We look forward to providing them with an additional base of resources that goes beyond what LMC could field on its own.”
“TriNet has been building a strong presence in the Denver and Boulder markets since our entry to Colorado in 2000,” said Martin Babinec, President and CEO of TriNet. “TriNet’s teaming with LMC allows us to work with a quality organization that shares our vision: a commitment to customer service and to supporting the corporate goals of high-performing businesses in this growing region.”
The newly combined operation will capitalize on the best of local service joined with TriNet’s industry leading employee benefits, technology, and human resource management expertise. Customers will see a seamless transition process as Richard Lang — the pioneering founder of LMC Resources and a 30-year industry veteran — and most of his staff are joining the TriNet team as part of a combined group, now positioned as an industry leader in Colorado.
TriNet is a high-growth company that continually seeks to expand its business. Providing new ways to enhance the value it brings to an increasing customer and employee base remains a top priority. The company anticipates it will continue to lead this charge by its combined focus on improving its superior customer service, implementing new technology, further expanding its new product offerings, and making enhancements to its growing portfolio of value-added human capital consulting offerings.
TriNet has completed several acquisitions over recent years, including John Parry & Alexander (2007) and the Outsource Group (2006) both based in Walnut Creek, California, the E3 Group in Texas (2003), as well as adding books of business from Hawaii-based ALTRES (2003) and Boston-based HR Logic (2002). TriNet is currently positioned as one of the largest Professional Employer Organizations in the country, and provides HR outsourcing and consulting services to nearly 2,000 companies and more than 35,000 serviced employees throughout the United States and Canada.
About TriNet Group, Inc.
Founded in 1988 in the San Francisco-Bay Area, TriNet provides strategic, cost-effective payroll, benefits, and human resource outsourcing services to companies throughout the United States and Canada. TriNet specializes in helping small and medium-sized businesses reach their corporate goals and become destinations for top talent, enabling them to compete successfully with larger, more established organizations. TriNet’s comprehensive offerings include HR administration, online employee benefits administration and support, employer risk management, payroll processing, tax compliance, workers compensation, group health and welfare products, and strategic human capital consulting services. For more information about TriNet, visit http://www.trinet.com.