Vaco Acquires Lannick, Canada's Largest Regional Finance and Accounting Recruitment and Consulting Firm
Strategic Purchase Marks Vaco's Second International Acquisition in 2017, Largest Acquisition to-date and Linchpin of its Northern Expansion Plan
NASHVILLE, Tenn., Aug. 3, 2017 /PRNewswire/ -- Vaco, a leading talent acquisition and consulting firm focusing in the areas of accounting, finance, IT, administration and executive search has acquired Lannick, a Toronto-based premier professional recruitment and consulting firm. Together, Vaco and Lannick will form a continental powerhouse that provides talent solutions across a diverse set of industries to more than 10,000 clients.
Vaco's international reach has been steadily expanding. The 14-year-old firm serves more than is on its second international acquisition in four months. Vaco acquired Binary Semantics, an India-headquartered software development and systems integration company, at the end of March. As Vaco's biggest acquisition to date, the purchase of Lannick not only expands Vaco's reach geographically, but increases 2017 projected revenue to $458 million.
Founded in 1985, it has been Lannick's mission to service the pressing need for superior talent in the areas of accounting, finance and IT. As Canada's largest regional finance and accounting specialist firm, they are poised to add thousands of permanent, temporary and contract placements to Vaco's already established book of business.
"Vaco is talent centric, not location centric so as exciting as it is to expand into the vibrant city of Toronto, it is even more thrilling to add the abilities and energy of this incredible Lannick team," said Vaco Co-Founder and CEO, Jerry Bostelman. "As we worked out the complex deal points, it was obvious that alongside this creative, committed, culture-driven team, together we were stronger. Internally we will top grade our processes, connect our extraordinary players and collaborate about how we collectively become more impactful in the lives of our clients, candidates and consultants."
"I am truly excited by this partnership, complete alignment of culture and philosophy. Our clients will receive the same outstanding boutique-firm treatment while having access to a larger network of talent," said Peter Jeewan, President & CEO of Lannick. "The right talent is the number one differentiator between successful and unsuccessful companies. Our business connections range from Fortune 500 companies to some of Canada's leading government and nonprofit organizations, so it's a huge asset that we will be able to add Vaco's expertise and talent pool to our repertoire of services."
Jeewan added, "Of paramount consideration in this partnership are the endless new possibilities for our amazing people to grow, develop and benefit financially. Vaco's access to capital and proven experience and history in promoting and developing from within will in no small way excite our emerging leaders. We are thrilled to begin this new and amazing chapter in our company's history."
About Lannick
Lannick is the premier professional recruitment and staffing firm in the Greater Toronto Area. Founded in 1985, Lannick provides best-in-class finance, accounting and technology professionals at all roles and levels through its three divisions: Lannick Finance & Accounting, Pro Count Staffing and Lannick Technology. Lannick places more than 1,000 candidates annually and is a preferred vendor for Canada's most successful organizations. Learn more at www.lannick.com.
About Vaco
Vaco offers consulting, contract and direct hire solutions in the areas of accounting, finance, technology, healthcare, operations and general administration. With more than 40 offices across the U.S. and beyond, Vaco has been on the Inc. 5000 list of the nation's fastest-growing private companies for the last ten years. Vaco is dedicated to developing creative client solutions, long-term relationships and lifelong careers. For more information, visit vaco.com.
SOURCE Vaco
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