PEMCO Secures Credit Facility with Goldman Sachs

SARASOTA, Fla. - Sept. 9, 2014 - PRLog -- Progressive Employer Management Company (http://www.progressiveemployer.com/) (PEMCO), a leading provider of human resource, payroll, employee benefit and workers’ compensation services for small and mid-sized companies, has announced  that it has secured a credit facility with an affiliate of The Goldman Sachs Group, Inc. (http://www.goldmansachs.com/)

“Securing this credit facility with Goldman Sachs is an important achievement for PEMCO as we move forward with the execution of our profitable growth strategy,” said Peter Grabowski, chief financial officer of PEMCO

The credit facility, which primarily repaid existing outstanding loans, is also available for general corporate purposes, including acquisitions. The credit facility, which matures on August 14, 2017, is subject to various covenants that are customary for facilities of this nature.

“This facility provides PEMCO with the financial stability to continue our expansion to meet the growing need for business solutions,” continued Grabowski. “It will help us as we continue to execute our vision to become a premiere professional employer organization for the state of Florida and throughout the nation.”

PEMCO is recognized in Florida, and nationally, as one of the fastest growing companies, and has serviced the professional, medical, contractor, hospitality, service, industrial, and nonprofit sectors for more than 15 years. For more information on PEMCO, visit progressiveemployer.com (http://www.progressiveemployer.com/).

About Progressive Employer Management Company

Progressive Employer Management Company (PEMCO) is one of the fastest growing professional employer organizations (PEO) in the nation. PEMCO is a full service provider of payroll administration, workers' compensation, employee benefits, and human resource management. Since 1999, PEMCO’s philosophy for becoming one of the largest PEOs in the U.S. has been to “Focus on the Customer” while allowing uncompromising integrity and relentless attention to detail to drive growth. PEMCO is headquartered in Sarasota, Florida, with additional offices in Tampa, Orlando, West Palm Beach, Punta Gorda, and Pensacola, Florida and Dallas (Irving), Texas. For more information, visit www.progressiveemployer.com or call 888.925.2990.