CHICAGO, Jan. 22, 2020 /PRNewswire/ -- Element78, a nationally-recognized advisory firm specializing in accounting, finance and operations, announced today its acquisition of Trillium Solutions Group ("Trillium" or "TSG"), a leading technology consulting and strategic sourcing firm.
With the addition of Trillium, the combined company will have nearly 40 employees in three offices – Baltimore, Chicago and St. Louis – and offer a full suite of services spanning private equity transactions, transitions and transformations; managed services, such as finance, accounting and IT outsourcing; technology enablement; human capital management and interim financial leadership across the business lifecycle.
"We are delighted to welcome the talented Trillium team to Element78," said John Signa, Element78's founder and CEO. "Trillium's deep domain expertise in solving challenging human capital and technology problems will enable us to bring more robust, end-to-end solutions to our clients. From the beginning, our goal was to build a unique professional services firm with capabilities that extended beyond our core accounting, administration and finance solutions that we provide to private equity fund managers and their portfolio companies. Joining forces with Trillium allows us to expand our range of services not only to the office of the CFO, but other members of the C-suite."
Steve Adelstein, founder and CEO of Trillium joins Element78 as chief operating officer and will oversee integration of the two firms. Mr. Adelstein is a technology veteran with over 25 years of experience spanning across private and public companies and consulting. "Trillium and Element78 have collaborated on several client engagements as solution partners," said Mr. Adelstein. "Trillium's technology transformation offering allows private equity clients to understand risks and provides a roadmap for technology investment optimization in areas including advanced analytics, cloud-based infrastructure and business intelligence solutions. Our executive search offering is a natural extension of Element78's interim leadership capabilities. Moreover, we share the same relentless desire to pursue successful outcomes for our clients and, together, our collective resources will drive a more robust service offering in an extremely cost-effective and efficient manner."
"Our partnership with Trillium is the first of several to come in 2020 and beyond," added Gary Modrow, managing director and chief growth officer for Element78. "In addition to exploring partnerships that can expand our current capabilities, we will continue to invest in our core accounting, administration and finance business by partnering with like-minded, client-centric, and growth-oriented firms and strategically expand our geographic footprint. We're building a truly unique, solutions platform for our target private equity market. By combining administration and advisory services, we offer fund managers and portfolio companies highly-specialized and exceedingly capable resources to deliver value across the investment lifecycle."
Terms of the transaction were not disclosed.
About Trillium Solutions Group
Trillium Solutions Group is a professional services firm headquartered in Chicago that provides business and technology consulting and strategic sourcing services for industries such as financial services, private equity, health
Drawing on decades of experience, Element78 delivers a unique and invaluable perspective to its clients. From acquisition through integration and exit readiness, Element78 offers solutions throughout the investment lifecycle, acting as the change agents its clients need to move companies forward through transactions, transitions, and transformations. It brings high-touch professionals who are passionate about working with clients in challenging but rewarding environments. E78 was recently included in Consulting Magazine's 2019 list of Fastest Growing Firms and was ranked No. 355 among Inc. Magazine's 2019 annual Inc. 5000 list which ranks the nation's fastest-growing private companies.