The Castleton Group, which provides a variety of human resource related services, has acquired rival PEO Job Strategies. Terms of the deal were not disclosed.
Some 20 technology companies are clients of Castleton, according to Scott Secor, its chief executive officer. Castleton is targeting the technology sector for future growth.
Castleton targets clients with up to 200 employees. It offers human resource administration, regulatory compliance management, benefit packages and payroll management services.
“We were working the same market and were even using the same computer operating system,” Secor said. “Blending the operations was fairly seamless.”
The combined firm will have 21 employees and operate offices in Raleigh and Cincinnati. Five people work in the Cincinnati office. The transaction was completed on Jan. 16, but it was not announced until clients of PEO had been notified, Secor said.
Secor said he expected the company to produce $100 million in revenue this year.
Castleton is a sister company of Executive Staffing Group in Raleigh.