BOSTON, October 6, 2016 – New Heritage Capital (“Heritage”), a Boston-based private equity investment firm specializing in founder-owned businesses, today announced an investment in The Execu|Search Group, (“Execu|Search” or the “Company”), a full-service recruitment, temporary staffing, and workforce management solutions provider with deep expertise in healthcare and financial services. The transaction will be structured using Heritage’s innovative Private IPO® solution. Execu|Search will retain operational control of the Company, and the existing management team will remain in place.
Execu|Search is a leading provider of full-service staffing solutions throughout the Northeast and Florida. The Company serves clients across a broad range of industries, and is led by a strong and bullish management team with an average tenure of over 22 years. For more than three decades, their dedication to solving the needs of employers and candidates has positioned Execu|Search as the industry leader they are today. The Company has grown significantly above the industry average rate and will continue to gain market share by leveraging its strong reputation across both new and existing companies and industries.
“We are very excited about the opportunity to partner with Heritage and see this as the beginning of the next chapter in the success story of The Execu|Search Group.” said Edward Fleischman, Founder and CEO of Execu|Search. “We see our partnership with Heritage as an incredible opportunity to grow our company and build on our impressive organic growth. We also look forward to working with their team to seek acquisition opportunities in the market to further accelerate growth.”
Judson Samuels, Partner of Heritage, added, “We are thrilled to have the opportunity to partner with Execu|Search and will strive to continue building upon the impressive company that Ed and the team founded.”
Heritage is a Boston-based private equity firm with a twenty-year history of partnering with growing, middle market, founder-owned businesses. With its innovative investment structures like the Private IPO®, Heritage provides founders with a combination of liquidity and growth capital while allowing founders to maintain control of their business. With decades of experience at managing growth, Heritage gives its partners the strategic, operational and financial guidance to help its companies reach their growth objectives.
Founded in 1985 and headquartered in New York, NY, Execu|Search is a leading provider of full-service recruitment, temporary staffing, and workforce management solutions in the Northeast and Florida. The Company serves clients across a broad range of practice areas, including Accounting/Finance, Creative + Digital, Engineering, Financial Services, Health Services, Human Resources, Information Technology, Legal Services, Life Sciences, Nonprofit, and Office Support.