Manatee firm sold, execs to remain with company

MANATEE COUNTY — Tampa-based CoAdvantage Corp., one of the largest Professional Employer Organizations in the country, has acquired Progressive Employer Management Co., another PEO.

Terms of the deal weren't disclosed.

The merger of the two companies will expand CoAdvantage's coverage area, according to a statement. The combined companies will serve more than 4,000 clients and 85,000 worksite employees with a range of human resource outsourcing products and services, the release adds. A portfolio company of Morgan Stanley Private Equity, CoAdvantage has offices throughout Florida and Texas, as well as Colorado, New York and New Jersey. Progressive Employer Management Co., known as PEMCO, is based out of an office in Manatee County.