NEW YORK, Nov. 28, 2016 /PRNewswire/ -- CI Capital Partners, a New York-based private equity firm, announced today that it has formed a partnership with Greg Slamowitz, the former Co-Chief Executive Officer and Co-Founder of Ambrose Employer Group ("Ambrose"), to pursue an investment in the professional employer organization ("PEO") industry. Professional employer organizations provide outsourced human resources services to small and mid-sized companies.
Mr. Slamowitz brings to this partnership significant operational experience in the human capital management industry. Mr. Slamowitz founded and helped build Ambrose Employer Group, a leading PEO. Mr. Slamowitz also served as the President of the National Association of Professional Employer Organizations and as Founder and Treasurer of its political action committee. In such capacity Mr. Slamowitz was instrumental in the recent passage of the Small Business Efficiency Act ("SBEA") with bipartisan support. In total, Mr. Slamowitz spent 16 years at Ambrose, culminating with the company's sale to TriNet in 2013.
CI Capital and Mr. Slamowitz will pursue investment opportunities in the PEO sector by targeting companies with superior capabilities and industry-leading management teams in order to consolidate this fragmented industry.
"I am pleased to announce this new partnership with CI Capital," said Mr. Slamowitz. "I believe that now is an attractive time to build a platform company in the PEO sector, given the pressure placed on small and medium-sized enterprises to comply with an increasingly complex array of regulatory challenges and to compete for talent with larger companies. CI Capital's experience in helping to build service businesses through organic growth and numerous add-on acquisitions makes the firm an ideal partner."
Thomas Ritchie, Managing Director at CI Capital said, "Over 20 years, Greg has built an impressive reputation as a leader in the PEO industry. We are thrilled to have the opportunity to work with Greg and look forward to pursuing an investment together."
About CI Capital Partners
CI Capital Partners LLC, a leading North American private equity investment firm with approximately $2.1 billion in assets under management, has been investing in middle-market companies since 1993. Since inception, CI Capital and its portfolio companies have made over 200 acquisitions representing approximately $8 billion in enterprise value. CI Capital's existing portfolio consists of companies that collectively generate annual revenue of over $3 billion and annual EBITDA of over $350 million and employ over 13,000 people.
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SOURCE CI Capital Partners