Ettain Group, an information technology staffing and solution firm which operates in the Triangle and is based in Charlotte, has landed an investment from a New York-based private equity firm.
New MainStream Capital is Ettain group’s backer.
The capital infusion will be used to help Ettain Group expand and make “strategic acquisitions,” the firms said,
However, financial details of the investment were not disclosed.
Company founders Jeff Harris and Brian Debitz founded the company in 1996, and each remain involved in the firm as well as “significant shareholders,” the firms said in the announcement.
Ettain Group operates eight offices and annual revenues now top $100 million a year.
“We had conversations with over 50 potential investors over the last 24 months. NMS supports our Vision, Mission, Values and growth strategy which led us to enthusiastically choose to work with them,” Harris said in a statement.
“NMS has established an impressive track record in the staffing industry, and we believe their understanding of our business and the IT staffing market, will allow us to accelerate the growth of ettain. Partnering with NMS will further support our Company Vision to create opportunity for others, and will continue to build upon our Client Mission to be the partner of choice for every client.”
Harris serves as Eetain’s CEO.
As part of the deal, Robert Livonius, a member of the private equity firm;s executive council, joins the Eetain board.
“Ettain exemplifies the type of company that we at NMS seek to invest with – a high caliber management group with a dedicated team of employees providing blue chip clients with first rate service,” said NMS Managing Partner Kevin Jordan. “The company’s growth and success have been impressive, and we’re thrilled to have the opportunity to partner with them.”