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July 29, 2010 |
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| October 29, 2009 |
By: Deborah C. Espana |
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ort Lauderdale-based AlphaStaff Group has agreed to purchase Selective HR Solutions, a subsidiary of Selective Insurance Group, for $13 million.
The deal, which is expected to close by Jan.1, 2010, will make AlphaStaff the fourth-largest professional employer organization in the nation.
Sarasota based-Selective HR is expected to add approximately 20,000 employees to AlphaStaff’s current roster. AlphaStaff currently has 50,000 employees operating in Florida, Georgia, Texas, California, New York and New Jersey.
The acquisition will allow AlphaStaff to expand into the North Carolina, South Carolina, Maryland, Virginia and Tennessee markets.
It will be the only PEO to distribute its product through the insurance agent channel.
Branchville, N.J.-based Selective Insurance Group has more than 900 insurance agents.
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