A&M CAPITAL PARTNERS | 06.17.20

Champion ONE Merges with Approved Networks

Combination creates one of the world’s largest independent optics players with expanded product offerings and broader addressable market

Cleveland, OH, and Orange County, CA, June 17, 2020 – Champion ONE, a leading designer, marketer, and supplier of optical networking components worldwide, today announced its merger with Approved Networks (“Approved”) and its affiliate, U.S. Critical, two recognized leaders in the programming, testing, and distribution of network solutions. The newly combined company will be one of the world’s largest independent optics companies, providing both open network and highly-customized optical solutions to the global market’s leading telecommunication service providers, as well as to data centers and U.S. government agencies, among others. 

The combined entity, which will continue to operate under the Champion ONE, Approved and U.S. Critical brands, will be headed by Pete Kirchof, Champion ONE’s Executive Chairman. Kurt Dunteman, Approved Networks’ Co-Founder and Chief Executive Officer, will serve as Chief Revenue Officer of the unified company.

The company will feature expanded product offerings – including TAA-compliant custom cabling and connection points – and exceptional customer diversification, with improved access to the enterprise and data center sectors. Further, the company will leverage its growing team of highly-trained professionals and its experienced executive leadership to service its domestic and international customer base. 

Kirchof noted that, “Similar to Champion ONE, Approved Networks has achieved significant growth since its inception, in large part due to its commitment to listening to customers and delivering consistent operational excellence. The decision to merge the companies was based not only on the compelling business synergies, but by the exceptional cultural fit, shared operational ethos, and relentless dedication to customer service.” 

“A large part of Approved Networks’ success has been the company’s ability to identify and take advantage of targeted, strategic growth opportunities, and it became clear that a partnership with Champion ONE would create greater value for our clients and stakeholders,” said Dunteman. “This is exciting news that means enhanced programming, testing and engineering capabilities; redundant lab operations on both the East and West Coast; and increasing growth opportunities for our employees, while providing expanded product breadth and domain expertise to our customers.” 

About Champion ONE:
Champion ONE is a designer, marketer, and supplier of optical networking components worldwide. Founded in 1992, Champion ONE is headquartered in Cleveland, Ohio, with additional offices in Atlanta, Dallas, Denver, Omaha, and Silicon Valley. The company provides high-performance, mission-critical open networking solutions for domestic and international telecommunications providers and category-leading businesses across both public and private sectors. For more information, visit https://www.championone.com/.
 
About Approved Networks:
Approved Networks is an industry leader and authority in the programming, testing, and distribution of high-quality OEM alternative optics. Founded in 2010, Approved Networks is headquartered in Orange County, California with an additional office in Leesburg, Virginia. The company provides networking solutions that are backed by best-in-class engineering and testing – offering technical, logistical, and sales support to discerning global enterprises operating in the toughest networking environments. For more information, visit https://approvednetworks.com/.
 
About U.S. Critical:
U.S. Critical operates the most advanced independent optical networking and connectivity test lab in North America – providing procurement, programming, testing and packaging expertise to enterprise and cloud data center customers around the world. Founded in 2001, U.S. Critical’s vertically integrated business model is ideally suited for delivering world-class quality and reliability at production volumes while providing industry leadership on critical next generation technologies. For more information, visit  https://www.uscritical.com/.

A&M CAPITAL PARTNERS | 06.01.20

Ryan C. McCarthy Joins A&M Capital Partners as a Partner

Greenwich, CT | June 2020 – A&M Capital Partners (“AMCP”), a middle-market private equity buyout fund that is part of the Alvarez & Marsal Capital  (“AMC”) platform, announced that Ryan C. McCarthy has joined the firm as a Partner.  Mr. McCarthy brings over 22 years of experience working with middle-market companies to help them navigate through various forms of growth, transition or inflection, including as an owner, investor, operator and management consultant. 

Prior to joining AMCP, Mr. McCarthy was a Co-founder and Senior Portfolio Manager of Highview Capital, a $500 million middle-market private equity fund that takes a long-term view on companies undergoing a transformation.   Prior to co-founding Highview, Mr. McCarthy spent nine years helping to build Aurora Resurgence, Aurora Capital Group’s value-oriented private equity fund, as a Founding Member, Partner and Member of the Investment Committee.  Additionally, Mr. McCarthy previously spent more than eight years with Alvarez & Marsal (“A&M”). 

Mr. McCarthy holds a Bachelor of Science in Accounting and Finance from Indiana University.  While at Highview, he previously served as a Director of American Plastics, GS Foods, National Fire & Safety, and Firstlight Media.  At Aurora Resurgence, he was formerly a Director of SIRVA, ALLTUB, International Cookware (Pyrex), Lexington Precision and Tops Parking.

About A&M Capital Partners:
A&M Capital Partners, with total assets under management of $1.8 billion, is Alvarez & Marsal Capital’s flagship investment strategy focused on middle-market control transactions in North America.  AMCP Fund I held its final close in 2014 with $600 million in capital commitments.  Between 2012 and 2020, AMCP Fund I invested in 32 companies to date across eight platforms.  Following the success of AMCP I, in 2019 AMCP Fund II closed with $1.2 billion in commitments.  AMCP has a strong and referenceable track record of serving as a trusted partner to founders, corporates and management teams, providing the capital and strategic assistance required to take businesses to the next level of success.

About Alvarez & Marsal Capital:
Alvarez & Marsal Capital (“AMC”) is a multi-strategy private equity investment firm with over $3 billion in total assets under management across four funds and three investment strategies.  The privately-owned firm is led by a highly experienced investment team, which is augmented by its strategic association with Alvarez & Marsal, one of the largest operationally-focused advisory firms in the world.  AMC’s business model combines a focus on middle-market private equity investing with the deep operational expertise, industry knowledge and global corporate relationships of A&M, making it a uniquely attractive partner to management teams, corporates and business owners.

A&M CAPITAL PARTNERS | 05.31.20

Matt Rhone Joins A&M Capital Partners as a Vice President

Greenwich, CT | May 2020 – A&M Capital Partners (“AMCP”), a middle-market private equity buyout fund that is part of the Alvarez & Marsal Capital (“AMC”) platform, announced that Matt Rhone has joined the firm as a Vice President.  Mr. Rhone brings seven years of private equity experience and will focus on sourcing and managing investments across a variety of services and healthcare verticals.

Mr. Rhone joins AMCP with prior experience at Tailwind Capital Partners, where he focused on control buyout investments in business services, industrial services and healthcare companies.  He served on the boards of Loenbro and HMT.  Mr. Rhone also previously worked at Jefferies LLC where he was engaged in investment banking.  Mr. Rhone earned his BA in Economics and Environmental Studies from Amherst College.

About A&M Capital Partners:
A&M Capital Partners, with total assets under management of $1.8 billion, is Alvarez & Marsal Capital’s flagship investment strategy focused on middle-market control transactions in North America.  AMCP Fund I held its final close in 2014 with $600 million in capital commitments.  Between 2012 and 2020, AMCP Fund I invested in 32 companies to date across eight platforms.  Following the success of AMCP I, in 2019 AMCP Fund II closed with $1.2 billion in commitments.  AMCP has a strong and referenceable track record of serving as a trusted partner to founders, corporates and management teams, providing the capital and strategic assistance required to take businesses to the next level of success.

About Alvarez & Marsal Capital:
Alvarez & Marsal Capital is a multi-strategy private equity investment firm with over $3 billion in total assets under management across four funds and three investment strategies.  The privately-owned firm is led by a highly experienced investment team, which is augmented by its strategic association with Alvarez & Marsal (“A&M”), one of the largest operationally-focused advisory firms in the world.  AMC’s business model combines a focus on middle-market private equity investing with the deep operational expertise, industry knowledge and global corporate relationships of A&M, making it a uniquely attractive partner to management teams, corporates and business owners.

A&M CAPITAL PARTNERS | 04.23.20

Brady Acquires Majority Interest in Maintenance Mart

Las Vegas, NV – Brady Industries (“Brady”), a portfolio company of A&M Capital Partners II (“AMCP”), a middle-market private equity fund that is part of the Alvarez & Marsal Capital (“AMC”) platform, acquired Maintenance Mart, a leading regional distributor of janitorial supplies and equipment.

Founded in 2000 and headquartered in Phoenix, Arizona, Maintenance Mart has a proven track record of providing reliable products and service throughout Phoenix, Tempe, Tucson and its surrounding areas.

Maintenance Mart complements Brady by improving its regional end-market expertise and scaling its existing Arizona market presence. The combination furthers Brady’s commercial office expertise in Arizona, is strategically located near Brady’s existing Arizona operations, which will result in operational efficiencies, and increases Brady’s distribution network with the addition of two new facilities.

About Brady:
Brady has been pioneering the way products and solutions are delivered to facility and foodservice professionals for more than 70 years.  At the heart of Brady’s operation is a community-minded culture driven by a workforce of more than 500 employees currently in 22 locations throughout Nevada, Utah, Arizona, Arkansas, Idaho, Kansas, Missouri, New Mexico, Oklahoma, Colorado, Maryland, California and Texas including its Las Vegas, Nevada headquarters.

Brady’s approach to partnership is unique by providing integrated customer support, expertise, technical support, and service across a full spectrum of customer needs including extensive facility offerings, complete dish machine and laundry machine service, equipment sales, rentals and service and foodservice supplies.  Brady provides these specialized solutions for customers in key commercial market segments including hospitality, education, healthcare, government, building service contractors and more.  More information on Brady can be found on the Company’s website, www.bradyindustries.com.

About A&M Capital Partners:
A&M Capital Partners, with total assets under management of $1.8 billion, is Alvarez & Marsal Capital’s flagship investment strategy focused on middle-market control transactions in North America.  AMCP Fund I held its final close in 2014 with $600 million in capital commitments.  Between 2012 and 2020, AMCP Fund I invested in 32 companies to date across eight platforms.  Following the success of AMCP I, in 2019 AMCP Fund II closed with $1.2 billion in commitments.  AMCP has a strong and referenceable track record of serving as a trusted partner to founders, corporates and management teams, providing the capital and strategic assistance required to take businesses to the next level of success.

About Alvarez & Marsal Capital:
Alvarez & Marsal Capital is a multi-strategy private equity investment firm with over $3 billion in total assets under management across four funds and three investment strategies.  The privately-owned firm is led by a highly experienced investment team, which is augmented by its strategic association with Alvarez & Marsal (“A&M”), one of the largest operationally-focused advisory firms in the world.  AMC’s business model combines a focus on middle-market private equity investing with the deep operational expertise, industry knowledge and global corporate relationships of A&M, making it a uniquely attractive partner to management teams, corporates and business owners.

A&M CAPITAL PARTNERS | 02.12.20

PatientCare EMS Solutions Acquires MedFleet Ambulance Service

PatientCare EMS Solutions (“PatientCare”), a portfolio company of A&M Capital Partners (“AMCP”), a middle-market private equity fund that is part of the Alvarez & Marsal Capital (“AMC”) platform, has acquired MedFleet Ambulance Service (“MedFleet”), a provider of advanced life support (“ALS”) and basic life support (“BLS”) ambulance, as well as stretcher services, primarily related to interfacility medical transports for patients in the Florida Counties of Hernando, Pasco, Pinellas and Polk.

MedFleet represents an expansion of PatientCare’s footprint in the Southeastern United States, complementing PatientCare’s existing Florida operations and offering a stronger market position in the interfacility ambulance services.  PatientCare will support MedFleet with its best-in-class technology and resources to expand services and enhance back office, human resources and other critical functions.

About PatientCare:
PatientCare is a leading provider of ground-based 911 emergency ambulance services and other critical healthcare logistics solutions. Headquartered in Tyler, Texas, the company operates growing partnerships with representative customers in Florida, Texas, Indiana, California, South Dakota, Mississippi and New York.  PatientCare is responsible for transporting more than 350,000 patients annually and is committed to providing compassionate quality care and service built around the needs of the patients and communities in which it serves.

About MedFleet:
Since its inception in 1973, MedFleet has been committed to providing BLS ambulance service and over the years has expanded services into ALS level transports in its geographic coverage area of Hernando, Pasco, Pinellas and Polk Counties in Florida.  MedFleet has focused largely on interfacility transports, providing a needed service in the Western and Central regions of Florida.  MedFleet is based in New Port Richey, Florida and has multiple contracts with the area’s hospitals, nursing homes and other healthcare facilities.

About A&M Capital Partners:
A&M Capital Partners, with total assets under management of $1.8 billion, is Alvarez & Marsal Capital’s flagship investment strategy focused on middle-market control transactions in North America.  AMCP Fund I held its final close in 2014 with $600 million in capital commitments.  Between 2012 and 2020, AMCP Fund I invested in 32 companies to date across eight platforms.  Following the success of AMCP I, in 2019 AMCP Fund II closed with $1.2 billion in commitments.  AMCP has a strong and referenceable track record of serving as a trusted partner to founders, corporates and management teams, providing the capital and strategic assistance required to take businesses to the next level of success.

About Alvarez & Marsal Capital:
Alvarez & Marsal Capital is a multi-strategy private equity investment firm with over $3 billion in total assets under management across four funds and three investment strategies.  The privately-owned firm is led by a highly experienced investment team, which is augmented by its strategic association with Alvarez & Marsal (“A&M”), one of the largest operationally-focused advisory firms in the world.  AMC’s business model combines a focus on middle-market private equity investing with the deep operational expertise, industry knowledge and global corporate relationships of A&M, making it a uniquely attractive partner to management teams, corporates and business owners.

A&M CAPITAL PARTNERS | 12.31.19

Talus Payments Completes Three Add-on Acquisitions during 2019

Talus Payments (“Talus”), a portfolio company of A&M Capital Partners (“AMCP”), a middle-market private equity fund that is part of the Alvarez & Marsal Capital (“AMC”) platform, completed three acquisitions during 2019: MSP Consulting, LLC (“MSP”), Merchant Services, LTD (“MSL”) and ValuPlus Merchants Association, Inc. (“ValuPlus”).  The three acquisitions have further diversified the Company’s go-to-market channels, migrated Talus’ portfolio to higher settled volume merchant accounts and further enhanced the Talus management team.

MSP, headquartered in Overland Park, KS, is a differentiated payments business which takes a consultative approach to payment services and goes-to-market through integrated partnerships with alliance and referral partners (banks and industry groups).  The Company represents a platform with strong organic growth, high quality merchant mix and a talented management team who joined Talus full time post-closing.  Additionally, MSP’s differentiated approach to payment services further diversifies Talus’ go-to-market channel offering.

MSL, headquartered in Miami, FL, is a leading payments industry merchant acquirer primarily focused on integrated bank referral, B2B and traditional SMB markets.  The Company is an attractive addition for Talus due to its high volume merchant portfolio as well as its strong network of professional independent sales agents with a track-record of selling into niche B2B and bank referral markets.

ValuPlus, headquartered in Denver, CO, is a small merchant acquirer focused on SMB merchants in the Front Range region of the United States.  The Company is highly complementary to Talus due to its growing MID portfolio, focus on higher volume merchant accounts and the geographic diversity of the independent sales agent network that ValuPlus brings to Talus.

About Talus Payments:
Talus Payments, headquartered in Dallas, TX, is a leading technology-driven provider of payment-processing solutions to small and mid-sized merchants.  Talus provides a full suite of merchant services including lead identification, standardized sale processes, underwriting, activations, deployment, customer service and risk monitoring.  Talus goes to market through both direct sales and integrated partnership channels to provide technology-enabled payment processing solutions in a high-touch, customer centric manner.

About A&M Capital Partners:
A&M Capital Partners, with total assets under management of $1.8 billion, is Alvarez & Marsal Capital’s flagship investment strategy focused on middle-market control transactions in North America.  AMCP Fund I held its final close in 2014 with $600 million in capital commitments.  Between 2012 and 2020, AMCP Fund I invested in 32 companies to date across eight platforms.  Following the success of AMCP I, in 2019 AMCP Fund II closed with $1.2 billion in commitments.  AMCP has a strong and referenceable track record of serving as a trusted partner to founders, corporates and management teams, providing the capital and strategic assistance required to take businesses to the next level of success.

About Alvarez & Marsal Capital:
Alvarez & Marsal Capital is a multi-strategy private equity investment firm with over $3 billion in total assets under management across four funds and three investment strategies.  The privately-owned firm is led by a highly experienced investment team, which is augmented by its strategic association with Alvarez & Marsal (“A&M”), one of the largest operationally-focused advisory firms in the world.  AMC’s business model combines a focus on middle-market private equity investing with the deep operational expertise, industry knowledge and global corporate relationships of A&M, making it a uniquely attractive partner to management teams, corporates and business owners.

A&M CAPITAL PARTNERS | 12.31.19

A&M Capital Partners Announces Promotions

Greenwich, CT | December 2019 – A&M Capital Partners (“AMCP”), the flagship middle-market private equity buyout fund that is part of the Alvarez & Marsal Capital  (“AMC”) platform, is pleased to announce that Robert Haisch has been promoted to Partner.  Rob has been with AMCP since 2014 and has led AMCP’s investments in and is a Director of Talus Payments, PatientCare EMS Solutions and Organix Recycling.

Additionally, AMCP would like to announce the promotions of Adam Fuchs to Principal, Alex Sacripanti to Vice President and Adam Gottlieb to Senior Associate.

About A&M Capital Partners:
A&M Capital Partners, with total assets under management of $1.8 billion, is Alvarez & Marsal Capital’s flagship investment strategy focused on middle-market control transactions in North America.  AMCP Fund I held its final close in 2014 with $600 million in capital commitments.  Between 2012 and 2020, AMCP Fund I invested in 32 companies to date across eight platforms.  Following the success of AMCP I, in 2019 AMCP Fund II closed with $1.2 billion in commitments.  AMCP has a strong and referenceable track record of serving as a trusted partner to founders, corporates and management teams, providing the capital and strategic assistance required to take businesses to the next level of success.

About Alvarez & Marsal Capital:
Alvarez & Marsal Capital is a multi-strategy private equity investment firm with over $3 billion in total assets under management across four funds and three investment strategies.  The privately-owned firm is led by a highly experienced investment team, which is augmented by its strategic association with Alvarez & Marsal (“A&M”), one of the largest operationally-focused advisory firms in the world.  AMC’s business model combines a focus on middle-market private equity investing with the deep operational expertise, industry knowledge and global corporate relationships of A&M, making it a uniquely attractive partner to management teams, corporates and business owners.

A&M CAPITAL PARTNERS | 12.20.19

Alvarez & Marsal Capital Closes €650 Million A&M Capital Europe, SCSp

Exceeds Original Fund Target of €400 million

Greenwich, CT | London, UK | December 20, 2019 – Alvarez & Marsal Capital (“AMC”), a multi-strategy private equity investment firm with over $3 billion in total assets under management across four funds and three investment strategies, announced today that its third strategy, A&M Capital Europe, SCSp (“AMCE” or the “Fund”) held the final closing at its hard cap of €650 million, exceeding its original target of €400million.  AMC is strategically associated with Alvarez and Marsal (“A&M”), one of the largest operationally-focused consulting firms in the world.

AMCE Fund I will enable A&M Capital Europe to pursue attractive control oriented investments in middle-market European companies that are undergoing a management/ownership transition or can benefit from access to significant operational expertise in the areas of corporate carve-outs, pan-European consolidation, special situations or businesses requiring specific support to pursue long-term growth.

AMCE has a team of seventeen London based professionals from nine European countries.  The Fund is broadly sector agnostic with key focus areas in consumer, industrials and business services targeting controlling stakes in companies wIth EBITDA between €15 million and €50 million.  AMCE has already completed a number of significant transactions across Europe including the carve-out acquisition of the French sports and protective eyewear company Bollé Brands from Vista Outdoor Inc. and the add-on acquisition of the Californian eyewear brand SPY+.  In addition, AMCE has acquired a controlling interest in La Patria, a leading Italian provider of remote monitoring security surveillance systems.

The Fund attracted a balanced and strong investor base from Europe, the Middle East and North America, including strong demand from AMC’s diverse network of existing investors plus investors new to A&M Capital, including public pension funds, corporate plans, insurance companies, fund-of-funds, foundations, endowments and family offices.  In total, the General Partner and its related entities committed approximately €48 million to AMCE and comprise almost 7.5% of its committed capital.

“We are extremely pleased with the outcome of AMCE and are fortunate to count some of the largest and most sophisticated private equity investors from around the world as our partners in this new strategy”, said Mike Odrich, Managing Partner & Founder of AMC.  “AMCE Fund I provides us with the capital we need to execute our investment strategy throughout the economic cycle and across the European marketplace”, added Jack McCarthy, Managing Partner & Founder of AMC.  Commenting on the final close, Mark Kelly, Managing Partner, A&M Capital Europe, said:  “We are very pleased to have closed our first fund and are grateful for the strong support demonstrated by investors, which helped us to significantly exceed our original fund target. We will continue to accelerate the growth of our existing investment portfolio and we are highly active in pursuing new opportunities across Europe, leveraging the team’s extensive experience and expertise alongside A&M Capital’s global network.”

Evercore Partners and Stifel, Nicolaus & Company acted as fundraising advisors and Simpson Thacher & Bartlett LLP acted as legal advisor.

About A&M Capital Europe:

A&M Capital Europe with total assets under management of €650 million, is A&M Capital’s European middle-market investment strategy.  AMCE leverages a highly experienced team of investment professionals, together with Alvarez & Marsal’s 1,000 operating consultants across 19 European offices to bring pan-European operating capabilities and industry relationships to bear in the sourcing, due diligence and post-acquisition performance improvement of investment opportunities.  AMCE has a strong and referenceable track record of serving as a trusted partner to founders, corporates and management teams, providing the capital and strategic assistance required to take businesses to the next level of success.

About Alvarez & Marsal Capital:

Alvarez & Marsal Capital is a multi-strategy private equity investment firm with over $3 billion in total assets under management across four funds and three investment strategies.  The privately-owned firm is led by a highly experienced investment team, which is augmented by its strategic association with Alvarez & Marsal, one of the largest operationally-focused advisory firms in the world.  AMC’s business model combines a focus on middle-market private equity investing with the deep operational expertise, industry knowledge and global corporate relationships of A&M, making it a uniquely attractive partner to management teams, corporates and business owners.

About Alvarez & Marsal:

Alvarez & Marsal is a privately-owned independent global professional services firm that leverages an industry leading group of experienced operating executives who help businesses improve performance, solve problems and unlock value for stakeholders. A&M has over 4,000 operating professionals and employees in 60 offices across North America, Europe, the Middle East, Asia and South America. A&M has expertise across all major industry sectors and extensive functional capabilities in nearly all primary areas of a business enterprise including, amongst others, operations, revenue enhancement, sales and marketing, manufacturing, IT, finance, working capital management, supply chain and logistics, real estate, human capital management, merger integration and carve-out support.

A&M CAPITAL PARTNERS | 11.01.19

Pritchard Acquires Majority Interest in Professional Management of Alabama

New York, NY – Pritchard Industries (“Pritchard”), a portfolio company of A&M Capital Partners II (“AMCP”), a middle-market private equity fund that is part of the Alvarez & Marsal Capital (“AMC”) platform, acquired Professional Management of Alabama, Inc. (“PMA”), a leading regional provider of janitorial services to commercial real estate and industrial clients.

Founded in 1987 headquartered in Birmingham, Alabama, PMA is a leading regional provider janitorial services throughout Birmingham, Montgomery and its surrounding areas.

PMA complements Pritchard by increasing its end-market expertise and scaling Pritchard’s existing Alabama market presence.  The combination furthers Pritchard’s medical and industrial expertise, is strategically located near Pritchard’s existing Birmingham operations and expands Pritchard’s Alabama coverage to Montgomery.

About Pritchard:
Pritchard Industries is a leading provider of facilities services, delivering a wide-range of janitorial and specialty services to approximately 300 million square feet of commercial office buildings, education and government facilities, sports/entertainment venues, medical complexes and industrial facilities.  Formed in 1986, Pritchard is headquartered in New York, NY, with operations across the United States. Pritchard employs a world class team of 7,000 union, non-union and seasonal employees, which have helped the Company achieve uninterrupted organic growth since inception.  The Company’s business segments include commercial janitorial services, sports and entertainment venue facilities services, metal and marble cleaning and restoration services, and building engineering and maintenance services.  More information on Pritchard can be found on the Company’s website, www.pritchardindustries.com.

About A&M Capital Partners:
A&M Capital Partners, with total assets under management of $1.8 billion, is Alvarez & Marsal Capital’s flagship investment strategy focused on middle-market control transactions in North America.  AMCP Fund I held its final close in 2014 with $600 million in capital commitments.  Between 2012 and 2020, AMCP Fund I invested in 32 companies to date across eight platforms.  Following the success of AMCP I, in 2019 AMCP Fund II closed with $1.2 billion in commitments.  AMCP has a strong and referenceable track record of serving as a trusted partner to founders, corporates and management teams, providing the capital and strategic assistance required to take businesses to the next level of success.

About Alvarez & Marsal Capital:
Alvarez & Marsal Capital is a multi-strategy private equity investment firm with over $3 billion in total assets under management across four funds and three investment strategies.  The privately-owned firm is led by a highly experienced investment team, which is augmented by its strategic association with Alvarez & Marsal (“A&M”), one of the largest operationally-focused advisory firms in the world.  AMC’s business model combines a focus on middle-market private equity investing with the deep operational expertise, industry knowledge and global corporate relationships of A&M, making it a uniquely attractive partner to management teams, corporates and business owners.

A&M CAPITAL PARTNERS | 10.22.19

Leading Talent Solutions Provider ettain group Acquires Global Employment Solutions and Leidos’s Commercial EHR Consulting Business

Charlotte, NC – October 2019 – ettain group, a leading provider of talent solutions, announced today that it has acquired Global Employment Solutions (“GES”) and Leidos Inc.’s commercial Electronic Health Records (“EHR”) consulting business (“Leidos Health, LLC”).  In connection with the transactions, ettain group has received a new majority investment from Alvarez & Marsal Capital (“A&M Capital”).

Founded in 1996, ettain group has grown to employ more than 1,300 professionals nationwide with office locations in seven key markets, and a strategic focus on Information Technology, Healthcare IT and Digital Creative solutions.  Since 2014, ettain has been a portfolio company of NMS Capital (“NMS”).  NMS exited its ownership of ettain as part of the transactions.

“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. “The company’s strong leadership and proven results position ettain group well for future growth both organically and through additional M&A.”

“We believe that the combination of these three companies immediately creates a leader in the market with a focus on in-demand IT skills and solutions,” said Alex Nivelle, a Partner of A&M Capital.  “We are excited to partner with management to support the business in its next phase of growth and development.”

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.

Leidos Health, LLC was originally formed through the acquisitions of Vitalize Consulting Solutions and MaxIT Healthcare in 2011 and 2012, respectively, and is a market leading provider of EHR Implementation, Optimization and Go-Live services. The business has been carved out from Leidos Inc. and will be re-branded along with ettain group’s Healthcare IT practice as ettain health. Leidos Inc. retains a large Healthcare business that serves government and commercial customers.

The acquisitions will enable ettain group to further strengthen its national Healthcare IT capabilities and to grow its IT staffing presence in several strategic markets, including New York, NY, Denver, CO, and Chicago, IL. In addition, the firms’ talented teams, range of solutions and high-integrity cultures are a strong complement to ettain group’s vision to deliver an unparalleled level of quality and service.

“We’re extremely excited to join forces with these well-respected leaders in our industry,” said 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.”

A&M Capital was advised by SunTrust Robinson Humphrey and Kirkland & Ellis.  NMS was advised by Houlihan Lokey and Greenberg Traurig.  GES was advised by Houlihan Lokey, Brownstein Hyatt Farber Schreck, and Kirkland & Ellis.  Leidos Inc. was advised by Baird and Venable.

About ettain group

ettain group is a leading talent solutions firm that delivers Recruitment Services and Managed Services in three practice areas: IT, Healthcare IT, and Digital Creative. From discovery to execution, we help our clients successfully design, develop, and deliver critical technology and business initiatives, from providing individual resources, to staffing and managing critical programs and projects, to running entire recruitment processes. Founded in 1996, with nearly 1,300 employees and consultants currently at work, we offer opportunities across North America, with offices in Charlotte, Dallas, Minneapolis, Nashville, Raleigh, Washington, D.C., and Winston Salem. For more information, visit www.ettaingroup.com.

About Alvarez & Marsal Capital

Alvarez & Marsal Capital is a multi-strategy private equity investment firm with over $3 billion in assets under management across four funds and three investment strategies. The firm is led by a highly experienced investment team, which is augmented by a strategic association with Alvarez & Marsal (“A&M”), one of the largest operationally-focused advisory firms in the world. A&M Capital combines a focus on middle-market private equity investing, with deep operational expertise, industry knowledge and global corporate relationships, making A&M Capital an attractive partner to management teams and business owners.  A&M Capital is headquartered in Greenwich, CT with offices in San Francisco, CA and London, England. For more information, visit www.www.a-mcapital.com.

Contact
Caroline Weitzel
VP People
cweitzel@ettaingroup.com
704-731-8023