CHARLOTTE – Talent management firm ettain group, which is based in Charlotte and has an office in Raleigh, has made two acquisitions and also has a new owner thanks to an invvestment from Alvarez & Marsal Capital.
In the deals announced Tuesday:
- ettain group acquired Global Employment Solutions
- It also addde the commercial Electronic Health Records consulting business of Leidos
NMS Capital, owner of ettain since 2014, “exited” its ettain investment with Alvarez & Marsal assuming control.
Specific financial terms were not disclosed.
“ettain group provides a highly attractive platform for investment in the IT staffing and solutions space,” said Michael Odrich, Managing Partner & Founder of A&M Capital, in the announcement. “The company’s strong leadership and proven results position ettain group well for future growth both organically and through additional M&A.”
GES has more than 1,500 employees sprad across 13 cities. It had been owned by TZP Group, which keeps a minority stake in the merged ettain group company, ettain said.
“Leidos’ electronic health records staff augmentation services business will be re-branded as part of ettain group’s Healthcare IT practice,” a company spokesperson said.
GES provides Information Technology and Professional staffing services in the commercial and government markets under the brands Fahrenheit IT, ITEC and Global Employment Solutions. GES employs over 1,500 professionals with office locations in 13 markets. Since 2014, GES has been a portfolio company of TZP Group. TZP and co-investors will retain a minority stake in the combined company.
Noted Trent Beekman, Chief Executive Officer of ettain group: “The Leidos Health business brings deep knowledge and comprehensive Healthcare IT advisory, implementation, optimization, and application management solutions. GES brings years of experience in IT and professional staffing and ranks among the largest U.S. staffing firms. The additional portfolios and strong client relationships will fuel the company forward into a new era of opportunity and result in a combined organization of more than 3,000 employees and consultants. Together, we look forward to continuing to enhance our capabilities, allowing us to drive our clients’ businesses forward and to positively impact the U.S. staffing industry landscape.”
ettain group, which launched in 1996, had almost 1,300 employees and consultants before Tuesday’s deal. It also has an office in Winston-Salem.