M&A Deal Summary

Oasis Outsourcing Acquires Fortune Industries

On September 16, 2016, Oasis Outsourcing acquired staffing company Fortune Industries

Acquisition Highlights
  • This is Oasis Outsourcing’s 2nd transaction in the Staffing sector.
  • This is Oasis Outsourcing’s 6th transaction in the United States.
  • This is Oasis Outsourcing’s 1st transaction in Tennessee.

M&A Deal Summary
Date 2016-09-16
Target Fortune Industries
Sector Staffing
Buyer(s) Oasis Outsourcing
Deal Type Add-on Acquisition
Advisor(s) Brown Gibbons Lang & Co. (Financial)
Bone McAllester Norton PLLC (Legal)

Target

Fortune Industries

Brentwood, Tennessee, United States
Fortune Industries, Inc. serves more than 600 small and medium-sized businesses, representing over 14,000 worksite employees in 47 states. Services include human resource consulting and management, employee training and development, workers compensation and risk management, payroll, and benefits administration.

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Buyer(S) 1

Buyer

Oasis Outsourcing

West Palm Beach, Florida, United States
Category Company
Founded 1996
Sector Business Services
DESCRIPTION

Oasis Outsourcing is a Florida-based Professional Employer Organization (PEO) serving almost 230,000 employees and 7,500 clients nationwide. Founded in 1996, it specializes in providing human resources services, employee benefits administration, payroll and tax administration, risk management services and staffing solutions to small- and medium-sized businesses throughout the United States. Oasis is accredited by the Employer Services Assurance Corporation (ESAC), ensuring the highest level of ethical, financial and operational standards in the PEO industry and has received SOC 1 Type II (formerly SAS 70) certification for its high level of accuracy and performance. Oasis, through its subsidiaries, is qualified to offer IRS-certified professional employer organization (CPEO) services.

DEAL STATS #
Overall 6 of 9
Sector (Staffing) 2 of 4
Type (Add-on Acquisition) 5 of 8
State (Tennessee) 1 of 1
Country (United States) 6 of 9
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-21 Doherty Employment Group

Edina, Minnesota, United States

Doherty Employment Group, Inc. is a provider of comprehensive human resources and employment related services to its diverse client base.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-06 Diversified Human Resources

Phoenix, Arizona, United States

Diversified Human Resources, Inc. is an outsourced human resource company that provides human resource and insurance brokerage services, payroll processing, and temporary staffing solutions for a broad range of clients. Diversified Human Resources was founded in 1996 and is based in Phoenix, France.

Buy -
Mergr

Product

Company

Legal