Business Services Industry
HR XCEL acquires Palmer & Cay unit.(Industry News)(Outsourcing Solutions Group)(Brief Article)
Business Insurance, March, 2005
CHARLOTTE, N.C.-Human resource outsourcing and benefits administration services provider HR XCEL L.L.C. has agreed to acquire Palmer & Cay Inc.'s Outsourcing Solutions Group. Terms of the transaction were not announced. HR XCEL assumed all existing outsourcing services for Grand Rapids, Mich.-based OSG on March 1.
Clients will be served from HR XCEL's headquarters in Charlotte, N.C. HR XCEL said the acquisition fits with the company's goal of doubling its market share by the end of the year. Savannah, Ga.-based Palmer & Cay said that because it and HR XCEL use the same technology platforms, the transition should be a smooth one for its OSG clients.
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