Leading Talent Solutions Provider ettain group Acquires Global Employment Solutions and Leidos's Commercial EHR Consulting Business
Acquisitions will grow ettain group's IT and HCIT businesses
Oct 22, 2019, 10:02 ET
CHARLOTTE, N.C., Oct. 22, 2019 /PRNewswire/ -- 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").
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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.a-mcapital.com.
SOURCE ettain group
