SONOMA -- The Nelson Family of Companies announced the sale of a "majority and controlling interest" in its WorkforceLogic division to Orlando-based ZeroChaos, a workorce solutions company, along with its financial partner Snow Phipps.
Terms of the deal were not disclosed.
The combination of the two companies will provide its clients with further workforce solutions, the companies said, including statement of work and professional services, business analytic and spend management.
Robert Baird served as the exclusive financial adviser to WorkforceLogic on this transaction with ZeroChaos and the Snow Phipps group. Snow Phipps, a New York private equity firm, acquired ZeroChaos in 2010 and subsequently Madeo, a Swedish managed services company, in 2011. Nelson will retain a minority interest in the new combined organization.
“Our decision to complete this transaction was based on serving the best long-term interests of our many multinational WorkforceLogic customers and the need to diversify the Nelson family’s assets,” said Gary Nelson, founder and chairman of the board.
The combined companies will have a greater global reach and the ability to further refine the technology that supports the WorkforceLogic VMS and MSP offering, already rated a Top Performer in 2010 and 2011 by Staffing Industry Analysts, according to the companies.
“In a consolidating market that demands ever more in terms of value and services offered, the combination of WorkforceLogic’s top-performing VMS and MSP services with the strength of the $1.5 billion strong ZeroChaos company will increase our capabilities both domestically and internationally," Mr. Nelson said.
In its 15 years in the field, WorkforceLogic focused on compliance, risk mitigation, and payroll services.
The Nelson Family of Companies is the largest staffing company based in the North Bay.