HRAmerica has acquired The Avenue Group, a firm that specializes in business consulting, work force development and training, and also named a new chief executive officer.
Financial terms of the deal were not disclosed by either of the companies, both of which are based in Charlotte.
Norm Schmidt, formerly of The Avenue Group, comes to HRAmerica as CEO with 35 years of experience. Schmidt replaces Barry Byrd, who still serves as chairman.
“HRA needed to create a predictable, sustainable and repeatable business model,” said Byrd, who co-founded of the company in 1998. “Norm is the added layer of professionalism and experience we need to accomplish that objective.”
In addition to captaining HRAmerica’s established business, Schmidt will transition, lead and grow the firm’s newly added arm of business consulting, work force development and training.
“With all employee information coming from a single source, any chance of flawed or mixed information is all but eliminated,” Schmidt said. “By allowing businesses to focus on their core competencies, we’re bringing customers a better ROI, increasing their satisfaction, raising efficiency and helping them retain employees. It’s truly a win-win-win situation.”
The acquisition differentiates HRAmerica, founded in 1998, from its competitors by providing all services in-house, the company says. It adds that the acquisition is expected to improve service delivery to clients, of which it has hundreds in 30 states.
“The Avenue Group is the perfect compliment to our business model,” said Wynn Davis, vice-chair and co-founder of HRAmerica. “Combining resources allows us to further compliment our service offering by providing complete work force development solutions.”
HRAmerica specializes in work force development that delivers end-to-end human resource solutions based on customer driven need. It offers employee administration solutions, such as payroll and benefits administration, employee benefit plans, HR compliance and business consulting and training.