North Star HR Acquires Absence Management Business from Capital H Group; Company to Create Jobs in Michigan, Ohio and Illinois
July 08, 2010 (PRLEAP.COM) Business NewsNorth Star HR, a Detroit-based human resources consultancy specializing in customized absence management solutions, announced that it has acquired a unit of Chicago-based Capital H Group. The acquisition, structured by CHILDS Advisory Partners, and partially financed by Michigan based Community Central Bank, will enable North Star HR to expand its operations in Michigan. North Star HR currently provides on-site outsourced absence management functions for self-insured mid- to large businesses.
"More companies are recognizing the benefit of outsourcing absence management, since policy creation, program design, legal compliance and claims management is complex and time-consuming," said Liz Secor, CEO of North Star HR. "With this acquisition, we have a great team in place poised to serve that market with a unique offering". Noting that the terms of the acquisition allowed North Star HR to hire the employees of the acquired Capital H Group business unit, Secor added, "I am really pleased that we were able to offer nearly every single person a job. Given the growth we are anticipating, we are fortunate to have hired such talented, dedicated people and are planning on creating even more jobs in Michigan, Ohio and Illinois."
CHILDS Advisory Partners, Atlanta, Georgia, a leading investment banking and strategic advisory firm focused on growing services firms, served as the advisor for Capital H Group and facilitated the transaction. "We are very optimistic about the growth of this market", said Cooper Mills, Partner at CHILDS Advisory Partners. "Recent industry surveys show that as many as half of large employers plan to add absence management programs in the next three to five years. North Star HR is at the forefront of meeting that need".
Terms of the transaction were not disclosed.
About North Star HR
North Star HR is a local human resources firm headquartered in Detroit, focused on providing customized, results-oriented absence management solutions to Midwestern companies. North Star HR offers companies a different type of solution that blends the in-depth expertise and focus of a remote third party administrator with the cultural immersion, customization and organizational integration of an in-house solution. Driven by a rigorous quality program and targeted performance metrics, this innovative blend allows North Star HR to achieve superior, measurable results in both absence reduction and benefits delivery.