30employees, all hourly
2new employer companies
About 30 daysfrom signing to closing
100%of staff offered jobs
Where things stand
Asset purchaseEmployees move from the seller to the buyer's new companies at closing.
Health planLevel-funded, so it doesn't transfer. A new plan has to be in place with no gap.
Earned vacationTreated as wages under state law. Balances haven't been provided yet.
BonusesPaid to key staff with no written plan, which creates fairness and overtime questions.
The work, in order
Before signing
Diligence review
- Review the census, payroll registers, benefits documents, handbook and agreements
- Check classifications, overtime, vacation accruals and bonus practices
- Send deal counsel a risk list with the deal-table items: vacation credit, retained wage claims, COBRA
Signing to closing
Transition
- State tax, paid leave and unemployment registrations for each new company
- Payroll, PEO and benefits options compared side by side
- Offer letter template, rehiring packet and handbook updates, reviewed by counsel
- Day 1 playbook, required notices and I-9 plan
Closing week
Day 1 and first payroll
- Onboard every employee and collect signed acknowledgments
- Run the first payroll with the client, then hand off
What done looks like on Day 1
Every employee has a signed offer letter
The first payroll runs on time
Health coverage with no gap
State accounts open
Employee files complete
Options
Diligence review
The review and the risk list for counsel, before the purchase agreement is final.
Pricing shared per engagement
Diligence and transition
Everything above, from the review through Day 1 and the first payroll. The most common choice.
Pricing shared per engagement
Add fractional HR
Ongoing HR after closing, including a full audit in the first weeks once we have access.
Monthly, quoted separately
Proposals aren't signed. Once the client picks a path, we sign a service agreement that sets the scope. Legal questions stay with the client's counsel.