RFE Announces Majority Investment in Innovative HR Outsourcing Solutions Company Congruity HR

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Congruity Adds Industry Veteran Mike Maseda as Executive Chairman RFE Investment Partners, a Connecticut-based private equity firm, in partnership with Weave Growth, announced today that they completed a recapitalization investment in Congruity HR, a professional employer organization (PEO) that provides HR outsourcing solutions to small and mid-sized businesses (“SMBs”) across the U.S. The company will continue to operate as Congruity HR led by Darrin Hunter, the founder, and the same management team who will remain a significant part of the ownership structure. “We are excited about this partnership and the opportunity to accelerate our growth trajectory,” Hunter said. “RFE’s resources, track record, and history of partnering constructively with management made them a perfect partner for us.” Mike Maseda, who has scaled two large platforms in the PEO industry, has joined the team as the Executive Chairman of Congruity Group Inc., the parent company of Congruity HR. The holding company will look to invest in other regional PEO brands and operators. About Congruity HR PEO Congruity HR PEO delivers comprehensive HR solutions to small and mid-sized businesses nationwide, sharpening their competitive advantage. Comprised of respected industry executives and certified HR professionals, Congruity HR provides hands-on, expert human resource services to reduce administrative burdens, ensure compliance with employer regulations, and effectively manage employment cost. The company’s extensive HR service offering includes a full range of health and workers’ compensation insurance products, tax administration, risk management services, and advanced technology. About Weave Growth Partners Weave Growth Partners is a private investment firm based in Silicon Valley, founded by experienced investors, entrepreneurs, and operators. Weave partners with management teams of profitable, middle-market businesses to bring a technology-enabled playbook of analytics and automation to transform their operations. About RFE Investment Partners: RFE Investment Partners is a private equity firm focused on making control investments in established small market companies located in North America. RFE is a long standing Connecticut-based firm founded in 1980 with over 40 years of experience investing in the lower middle market. RFE’s investment strategy is to acquire well-managed and growing small market companies at attractive prices and prepare them for exit to middle market strategic and private equity acquirers. RFE is currently investing out of Fund IX. For more information, please visit www.rfeip.com. RFE Investment Partners 36 Grove St New Canaan, CT, 06840 (203) 966-2800 www.rfeip.com