🠈 Paychex 🠊
Paychex is a rapidly expanding human resource company based in Rochester, NY. The company trades on the NASDAQ with the symbol PAYX
This section shows corporate transactions that I encounter as I explore business histories on the net.1
- 1971: Tom Golisano started the company with $3,000.
- 1979: The company expanded as 18 franchises which consolidated in 1979.
- 1983: Paychex held an IPO on NASDAQ.
- 2011: Paychex acquired SurePayroll for $115 million.
- 2018: Paychex acquired the Lessor Group based in Denmark.
- 1972: Lessor was founded in Allerød, Denmark
- 2016: Axcel, a Nordic private equity firm, acquired Lessor.
- 2018: Paychex acquired Oasis Outsourcing for $1.2 billion. The combined firm had more than 650,000 payroll clients.1,2the firm
History of Oasis Outsourcing
Oasis Outsourcing was founded in 1996 as a subsidiary of The Wackenhut Corporation which was founded by former FBI Agent George R. Wackenhut. Wackenhut provided a variety of investigator and security ventures with the subsidiary handling outsourced HR.
- 1996: Wackenhut Corporation launched the firm as a Florida based subsidiary.7
- 1997: Wackenhut acquired a PEO called Jim King Cos. a Jacksonville for $11.5 million and merged it with the subsidiary.
- 2002: A Danish security firm called Group 4 Falck AS acquired Wackenhut.
- 2003: Oasis CEO Robert C. Kneip, financed by HIG Capital Management LLC, acquired Oasis and spun off Wackenhut.7,8
- 2006: Nautic Partners acquired Oasis from H.I.G. Partners for $1.8 billion.12.
- 2013: Oasis launched Oasis Power Buys which is an online discount store for employees.11
- 2014: Stone Point Capital acquired Oasis.9
- 2016: Oasis acquired CEP Inc which owned 91% of Fortune Industries.
History of Fortune Industries
- 2005: Carter Fortune created Fortune Industries (AMEX: FFI) through a merger between Fortune Diversified Investments and other firms. Some were involved in gaming.
- 2007: Fortune acquired Employer Solutions Group based in Provo, Utah.
- 2012: Chris Carter passed away.
- 2013: CEO Tena Mfortune diversified holdingsayberry and Chief Financial Officer Randy Butler acquired FFI in a transaction financed by H.I.G. Capital. They renamed the holding Company CEP Inc.. (OTC: FDVF) 5
- 2017: Oasis acquired Staff One HR10
- Wikipedia - Paychex (Drawn 11/15/2019)
- PR Newswires - Paychex acquires Oasis (Drawn 11/15/2019)
- PR Newswire - Paychex Acquires Lessor (Drawn 11/15/2019)
- CA - ESG Acquired by Fortune (Drawn 11/15/2019)
- IBJ - Fortune Industries Set to Accept Buyout Offer (Drawn 11/15/2019)
- Staffing Industry - Oasis Industries to Acquire Fortune Industries (Drawn 11/15/2019)
- Reference for Business - The Wackenhut Corporation (Drawn 11/15/2019)
- Herald Tribune - Oasis Spun Off Wackenhut (Drawn 11/15/2019)
- PR Newswire - Stone Point Acquired Oasis (Drawn 11/15/2019)
- Stone Point - Oasis Acquired Staff One HR (Drawn 11/15/2019)
- Altaris - Oasis Launched Power Buys (Drawn 11/16/2019)
- Oasis PR - Nautic Acquires Oasis (Drawn 11/16/2019)
- Phoenix Color - Human Resoruces: Paychex
- Colorado Springs Color - Human Resources: Paychex
- Denver Color - Human Resoruces: Paychex
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