Case History
6
We were privileged to partner with Nautic for nearly 9 years. In the beginning, I had the concern shared by many portfolio company CEO's: “Will they let me run my business?” The answer was “yes," but, as the years ensued, I found them to be so talented, supportive and committed to our mutual success, that I invited them to assist me in addressing a wide range of challenges and opportunities. I have no doubt that our ultimate success was based on the strengths Nautic brought to the table.
Mark Perlberg, CEO, Oasis Outsourcing

Oasis

During Nautic’s partnership with the Oasis management team, the company grew its customer base from approximately 1,800 small- and medium-sized businesses (“SMBs”) to over 4,500 by year-end 2014, by both leveraging strong organic operational performance and by acquiring strategic add-ons.

BUSINESS OVERVIEW

Oasis Outsourcing, LLC is the largest private professional employer organization (“PEO”) in the U.S., and is a leading provider of comprehensive and cost-effective human resources (“HR”) services to SMBs. The company provides HR services, such as HR administration and development, employee benefit plan management, full-service payroll administration, and staffing and recruitment to over 4,500 SMBs and more than 160,000 worksite employees in all 50 states and Puerto Rico. Through its nationwide platform, Oasis provides its solutions to clients across a broad spectrum of industries, including business services, hospitality and retail, manufacturing, technology, and wholesale trade, among others.

THE SITUATION

Oasis, under guidance of its management team led by CEO Mark Perlberg, exhibited strong growth under the prior ownership. When the company was for sale, Nautic saw an opportunity to partner with a very talented CEO and management team with a plan to accelerate growth, both organically via sales process improvements and new market entries, as well as via an acquisition strategy that targeted the consolidation of a fragmented industry.

WHAT WE DID

Nautic supported Oasis’ management team to improve customer retention efforts as well as salesforce targeting, including identifying a de-novo market entry optimization strategy that included screening 50 top geographic markets. In addition, Nautic and management performed an exhaustive market review in order to aggregate add-on acquisition targets, identifying over 30 candidates and ultimately executing five transactions. The company was sold to Stone Point Partners in December of 2014.

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Certain statements about Nautic made by portfolio company executives herein are intended to illustrate Nautic’s business relationship with such persons, including with respect to Nautic’s facilities as a business partner, rather than Nautic’s capabilities or expertise with respect to investment advisory services. Portfolio company executives were not compensated in connection with their participation, although they generally receive compensation and investment opportunities in connection with their portfolio company roles, and in certain cases are also owners of portfolio company securities and/or investors in Nautic-sponsored vehicles. Such compensation and investments subject participants to potential conflicts of interest in making the statements herein.