“It's been a good time together…and the best is yet to come.”
– Cecilio and Kapono
I am thrilled to share some big news with you. ProService has partnered with Silver Lake as our new investor.
Silver Lake, a global leader in technology investing, is a world-class investment firm that will be working intensively with us to help ProService improve our technology, our internal tools and processes, and allow us to dramatically improve our offering and our value to you in the years to come.
This work has already started. Silver Lake has operating teams on-island working side-by-side with us to accelerate our technology progress, which was slower than we would like through and post Covid.
I am excited because their people are top-notch, fit our culture, and are experts at things we aren’t good at. We have always excelled at service, ownership culture, and lowering employer costs; but we have not had a great technology offering, and our technology has sometimes slowed our progress. We now have the best partner in the world to help us solve these challenges.
Some of you would be right to ask, “Why is Silver Lake investing in ProService?”
I must admit, I was blown away that they would be interested in this Hawai’i headquartered company; after all, they are investors in household names like Dell, Airbnb, GoDaddy, Fanatics, Stripe and UFC. But they aggressively pursued this investment because they loved our team, the clear value of our bundled offering, and our local service focus. And they knew from their experience that they could help us overcome our specific challenges. Silver Lake has actually helped other HR service companies similar to ProService with technology accelerations and succeeded at transforming their businesses.
Silver Lake, in partnership with me and 130 other ProService employee shareholders, is replacing FFL Partners as our main investor. FFL has been our partner for the past 6 years. I am deeply grateful to the team at FFL for their support and investment in the Hawai’i community during Covid. That was a time when other investors would have demanded deep cuts. But our community needed the help, and FFL supported us as we supported you.
Mahalo for trusting ProService as your HR partner. Our “Clients Are Partners” core value has never been more front and center than today as we enter this partnership with Silver Lake. We are embarking on this exciting path because of our commitment to improving for you. In my 18 years at ProService, I have never been more excited about our opportunity or how it will positively impact our community. You deserve it, and we are powered by it.
It will not be overnight, but you will see improvements in the coming months. We cannot wait to share more. The best is yet to come!
President & CEO