RALEIGH – PathGoal Employer Services, a spinout of Headway Workforce Solutions that was formed eight years ago, has been bought by PrestigePEO.
PrestigePEO, based in Melville, New York, provides integrated, end-to-end human resources solutions, specifically targeting small and medium-sized businesses, and noted in the statement that this move to acquire PathGoal is the company’s entrance to the North Carolina market.
A PEO is a licensed professional employer organization, which can function as a human resources department for small- or medium-sized businesses, which according to the PathGoal website “enables employers the ability to outsource burdensome government compliance requirements and their employee management tasks such as employee benefits, payroll and workers’ compensation insurance, recruiting, risk/safety management, performance management, and training and development functions.”
A description of a 2019 interview between 106.1 FM and Adam Doman, president of PathGoal, describes PathGoal as the “first licensed PEO headquartered in the state of North Carolina.”
PathGoal became a wholly-owned subsidiary, PrestigePEO said in a statement.
PrestigePEO is backed by a partnership with TriSpan, a private equity firm, which was formed earlier this year, according to the company’s statement.
“One of the goals we set for PrestigePEO earlier this year was to develop the Company’s footprint and create local penetration in markets with strong SMB presence,” said Baudoin Lorans, a TriSpan partner. “The acquisition of PathGoal meets that criterion and will complement PrestigePEO’s growing business.”
According to the statement, Doman will remain with the company following the acquisition.
The financial terms of the deal were not disclosed.
