Over the years, Corporate America has tried to find ways to reduce human resources costs. Usually, this means outsourcing the function. One of the top players in the space is SOI Holdings. Now, the company has filed to go public.

In HR-speak, SOI is a professional employer organization or PEO. Services include: payroll processing; compliance consulting; risk management (such as workers' compensation coverage); and benefits administration.

Last year, the company had about $1.14 billion in gross billing, with clients across 49 states.

Furthermore, the market opportunity is quite large. That is, according to a report from Staffing Industry Analysts, the market was about $9.4 billion in 2006 -- and it's expected to grow to $11 billion by 2008.

The lead underwriters on the IPO include Credit Suisse (NYSE: CS) and Lehman Brothers (NYSE: LEH). The proposed ticker is "SOH."

You can find the prospectus at the SEC website. Also, visit DealProfiles.com for more recent IPO activity.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements.

SOI - setting sights on an IPO originally appeared on BloggingStocks on Thu, 01 Nov 2007 15:30:00 EST. Please see our terms for use of feeds.