ProService Welcomes Silver Lake as New Investment Partner
Positions Leading Bundled HR Solutions Provider to Drive the Next Chapter of Growth and Innovation in Partnership with Global Leader in Technology Investing
HONOLULU & MENLO PARK, Calif. – ProService, a leading provider of bundled HR solutions, today announced that Silver Lake, a global leader in technology investing, has partnered with the ProService management team and employee owners to invest in and drive the company’s next chapter of innovation and growth.
ProService offers critical HR services including payroll, benefits, insurance, compliance, administrative and risk management services on a fully bundled basis. More than 3,000 employers, with over 70,000 employees, partner with ProService to reduce their employment costs, compete for and retain the best talent, and ensure compliance in complex regulatory environments.
ProService excels at serving employers in specific markets where it is challenging to manage the costs and complexities of HR, payroll, and benefits. In addition to Hawai’i, ProService offers bundled HR solutions to employers in Las Vegas, NV; Denver, CO; and the senior care and disability services market through its AdvanStaff HR, Obsidian HR, and ProCare business units, respectively. These businesses are each experiencing strong growth by providing excellent service and bundled offerings that lower costs and save time for employers and employees. ProService plans to aggressively invest in its technology and insurance offerings to bring more value to clients, and will grow where employers face challenges managing the rising costs and complexities of employment.
Silver Lake brings deep technology and industry expertise to support ProService in accelerating the company’s technology strategy and execution capabilities, driving the further enhancement of ProService’s solutions and services.
“We can imagine no better partner than Silver Lake as we continue to pursue our purpose of making it easier to be an employer in the markets we serve,” said Ben Godsey, President and CEO of ProService. “The Silver Lake team is an amazing complement to ProService, bringing its excellence in product development and tech management to our HR and service expertise.”
“ProService has truly mastered solving for employers’ needs, with comprehensive solutions for each local market,” said Lee Wittlinger, Managing Director at Silver Lake. “Silver Lake is incredibly excited to partner with the ProService team and utilize our technology expertise and business scaling experience to help better serve the company’s current and future employer and employee partners.”
“On behalf of our entire team, we are grateful to FFL Partners for their support and partnership over the past six years, and for how they have worked with us to pass the equity investment baton to Silver Lake,” concluded Godsey. “The sequential investments from these two firms validate our client-focused business model, and they are instrumental in making good on our promise that ProService’s success is shared by our clients, our employees, and the markets we serve. As we look ahead, our ‘Clients are Partners’ core value has never been more front and center, and we look forward to accelerating our innovation to better support employers in the local markets we serve. The best is yet to come!”
ProService provides bundled HR solutions that make it easier for employers to succeed. We provide local HR services for time-consuming and complex HR tasks and help employers manage HR and employee benefits and costs. These bundled solutions include configured HR technology, payroll, scheduling, HR consultations, health benefits management, administrative & risk management, workers’ compensation, 401(k), and regulatory compliance. ProService’s family of companies serve over 3,000 businesses representing over 70,000 employees in Hawaii, Las Vegas, NV, Denver, CO, and the senior care and disability services markets through ProService Hawaii, AdvanStaff HR, Obsidian HR, and ProCare, respectively. ProService is accredited by the Employer Services Assurance Corporation (ESAC).
About Silver Lake
Silver Lake is a global technology investment firm, with more than $95 billion in combined assets under management and committed capital and a team of professionals based in North America, Europe and Asia. Silver Lake’s portfolio companies collectively generate more than $282 billion of revenue annually and employ approximately 713,000 people globally.