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TriNet says still on track for record year

Wednesday August 20, 2008

It said TriNet had recorded a 24 percent increase in clients during the first half of 2008 as compared to the same period a year ago, or 360 new companies. It also had a 30 percent increase in the number of people employed by those clients.

Burton Golfield took the helm as TriNet president and CEO earlier this year. Three years ago, TriNet secured equity investment from General Atlantic LLC, a Greenwich, Conn., private equity firm.

Considered a professional employer organization, or PEO, TriNet is part of a $61 billion-a-year industry in the United States, according to the National Association of Professional Employer Organizations, a trade association based in Alexandria, Va. There are about 800 PEOs nationwide.

Also during the fiscal year’s first two quarters, TriNet acquired LMC Resources, a PEO based in Denver. 

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