August 4, 2015 – Bradley-Morris, Inc. (BMI), a recruiting firm focused on the placement of military veterans, has been acquired by Thompson Street Capital Partners (TSCP), a middle market private equity firm based in St. Louis. Financial terms of the transaction were not disclosed.
Bradley-Morris, and its affiliates, was most recently a portfolio company of Pine Tree Equity Partners, LLC, a private equity firm based in Miami. Investment banker Farlie Turner & Co. served as financial advisor to Pine Tree and BMI. The transaction was led by Mike Turner, a managing director at Farlie Turner, in addition to Kerensa Jimenez, Daniel Vetrano and Keita Iwabuchi.
Bradley-Morris is one of the nation’s largest military-focused recruiting firms that matches top management, engineering, sales, operations, technical and diversity candidates who are leaving the military with leading job opportunities with Fortune 1000 employers. Founded in 1991 and headquartered in Kennesaw, Georgia, BMI has placed over 30,000 qualified officer and technical candidates with global corporations. In addition to its headquarters location, BMI has three additional locations in Norfolk, VA; Austin; and San Diego.
“Throughout our history, Bradley-Morris has been focused on providing the highest level of service to businesses who seek to hire military, and to our military-experienced candidates who are pursuing careers with top employers,” said CEO Tim Best. “Partnering with the seasoned TSCP team will enable BMI to continue the strategy we have so successfully executed with our previous private equity partner, Pine Tree Equity, as well as to leverage other opportunities for growth, and in turn, will provide even greater prospects for our corporate clients and military job seekers.”
Jim Cooper, Thompson Street senior managing partner, said: “We are excited to be partnering with BMI’s management team of tenured recruiting industry executives and decorated military veterans. Our core TSCP team supporting this investment is, in fact, comprised of three military veterans, who provide us with a unique understanding of the company and appreciation for the important services BMI provides. We are certainly looking forward to supporting the accelerated growth of this highly regarded business.”
“Helping military personnel transition out to the civilian business community has been a booming business for recruiters dedicated to this sector,” said Scott A. Scanlon, founding chairman and CEO of Greenwich-based Hunt Scanlon Media. “The U.S. military is a workforce similar to any other major corporation that goes through an expansion or contraction. Leveraging their human assets during times of contraction, such as now, is a strategic business move for companies looking to bolster talent reserves in areas as diverse as supply chain, cyber security and logistics to name just a few.”
“I applaud senior executives who take specific actions to slowly bring prior military people into the gray-world,” said Jack Cage. A graduate of the U.S. Military Academy at West Point, Mr. Cage served in the U.S. Army as a commander of infantry units. A recipient of the Bronze Star, the Combat Infantryman’s Badge, and several other commendations, Mr. Cage retired as a colonel after 22 years of service in 1987. A former senior client partner with Korn Ferry, Mr. Cage today is president of leadership development advisor Cage Talent.
Private equity firms are increasingly being drawn to the executive search and talent management sector, reports Hunt Scanlon in its upcoming annual survey of the recruiting industry, and for different reasons. “Private equity firms now view recruiters as strategic partners helping them lure talent to their ever-expanding corporate portfolios,” said Mr. Scanlon. Others, like Global Equity International, are beating search firms at their own business by creating in-house recruiting operations to more effectively handle their unique leadership needs, reports Hunt Scanlon. “Still others are making direct investments in recruiting concerns like Bradley-Morris, where business platforms have the opportunity to scale and grow. That’s what every investor looks for in an ideal world.”
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media