Built It, Sold It, and Built It Back Up Again... | Greg Packer
Today I have a fantastic guest from my men's league hockey team and serial entrepreneur, Greg Packer. Greg was born in Detroit. He graduated from the University of Michigan, and went on to build two large professional employer organizations (or PEOs). Greg built his first PEO, Amstaff right out of college and eventually sold the business to ADP, which rebranded as ADP Total Source. At ADP Greg built the business to over $700 million in annual payroll which created one of the most profitable business lines for ADP.
After a brief professional break to help coach his kids' hockey and lacrosse teams, in 2000 he decided to get the band back together and build another PEO - AccessPoint. Today, AccessPoint services more than 330,000 work site employees across all 50 states.
I hope you enjoy my conversation with Greg Packer.
E18: Today I have a fantastic guest from my men's league hockey team and serial entrepreneur, Greg Packer. Greg was born in Detroit. He graduated from the University of Michigan, and went on to build two large Professional Employer Organizations (or PEOs). Greg built his first PEO, Amstaff right out of college and eventually sold the business to ADP, which rebranded as ADP Total Source. At ADP Greg built the business to over $700 million in annual payroll which created one of the most profitable business lines for ADP.
After a professional break to help coach his kids' hockey and lacrosse teams, in 2000 he decided to get the band back together and build another PEO - AccessPoint. Today, AccessPoint services more than 330,000 work site employees across all 50 states. In our conversation, Greg describes his entrepreneurial journey and how company culture, recurring revenue, and HR due diligence helped him to not only sell his companies, but how he measures the companies he acquires today.
A few episode highlights:
(6:10) ... Thinking about value creation and handling inbound M&A interest.
After a professional break to help coach his kids' hockey and lacrosse teams, in 2000 he decided to get the band back together and build another PEO - AccessPoint. Today, AccessPoint services more than 330,000 work site employees across all 50 states. In our conversation, Greg describes his entrepreneurial journey and how company culture, recurring revenue, and HR due diligence helped him to not only sell his companies, but how he measures the companies he acquires today.
A few episode highlights:
(6:10) ... Thinking about value creation and handling inbound M&A interest.
(15:10) ... Getting prepared for an 8-figure exit, and becoming one of the most profitable business unit within ADP.
