FFL Partners, a private equity firm focused on growth investments in healthcare and tech-enabled services businesses, has exited its investment in ProService, a provider of bundled HR solutions.Â
FFL Partners (FFL), a private equity firm focused on growth investments in healthcare and tech-enabled services businesses, has exited its investment in ProService, a provider of bundled HR solutions.
Financial terms of the private transaction have not been disclosed.
Founded in 1994 and headquartered in Hawaii, ProService offers HR services including payroll, benefits, insurance, compliance, administrative and risk management services on a fully bundled basis.
FFL has a long-established track record of investing in growing tech-enabled HR Services businesses. Recent investments in the space include Optomi Professional Services, a specialty staffing and onshore outsourcing firm, and Velocity Global, a global HR provider that helps businesses hire compliantly around the world. In April, FFL announced that ALKU, a specialty staffing firm and 2019 FFL investment, had received a new majority investment, with FFL continuing as an investor.
Lazard served as financial advisor to ProService, and Willkie, Farr & Gallagher provided legal advice to the Company.
