TriNet Hires PE Pro for M&A
The human resources firm brings in Franzone, a corporate development expert, at a time when the space is seeing an M&A overhaul.
July 27, 2010
TriNet, the California-based, privately-held human resources outsourcer, hired Jimmy Franzone to its management team as the industry is seeing a second-half boom in M&A. The company didn't have to look far, as Franzone arrives from private equity firm General Atlantic, which has been an investor in TriNet since 2005.
TriNet tapped Franzone to serve as its vice president of corporate development. Franzone led $300 million in investments while with the PE firm and worked with the company last year when it acquired Gevity, raising $80 million of debt and taking Gevity private before merging it with TriNet.
The company created the position as part of a growth strategy to transform and lead the professional employer organization industry.
Franzone also worked as senior associate for Technology Crossover Ventures, a venture capital firm. He began his career as a business analyst at McKinsey & Company, a management consulting firm.
Lately, investment banks and private equity firms alike have been stocking up on professionals senior and junior in anticipation of more work in a rebounding economy. Baird Capital Partners, also on Tuesday, announced it hired Roberto Ferranti to its Chicago branch. Ferranti previously worked at Mesirow Financial.
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