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Private equity firm to acquire Engage PEO

May 02, 2019

Investment funds affiliated with private equity firm Lightyear Capital LLC agreed to acquire Engage PEO, a professional employer organization providing HR outsourcing solutions to small and midsize businesses across the US.

The company will continue to operate as Engage PEO. The current management team will remain part of the ownership structure and in place with no operational changes.

Based in Fort Lauderdale, Florida, Engage PEO was founded in 2011 by CEO Jay Starkman and operates nationwide. The transaction is expected to close in the second quarter; financial terms were not disclosed.

“Engage is driven to deliver the best PEO experience to clients while simultaneously growing our company, and Lightyear gives us the opportunity to do both better and faster,” Starkman said. “A key factor in our decision was Lightyear’s track record of working with management teams to create stronger companies and add value to all stakeholders.”

Lightyear Capital is based in New York and focuses on financial services investing.

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