CoAdvantage, Inc., a Tampa, Florida-based professional employer organization, completed a majority investment from Morgan Stanley Global Private Equity (MSPE).
The amount of the deal was not disclosed. MSPE partnered with the current management team who will remain in place and continue to drive organic and acquisition growth.
Led by Mike Maseda, Chief Executive Officer, CoAdvantage is a professional employer organization that offers small and mid-sized businesses a comprehensive package of outsourced human resources solutions to reduce administrative burden, ensure compliance with employer regulations, and gain access to employee benefits. The company integrates payroll and tax processing, employee benefit plan administration, risk management, government compliance and other human resources services into a single vendor solution.
CoAdvantage services clients in all 50 states through multiple locations nationwide, including Florida, Texas, Colorado, New Jersey, and New York.