February 24, 2016 – The Fahrenheit Group, a Richmond-based business advisory and professional services firm, has acquired Bencks & Co., a boutique recruiting firm headquartered in Richmond, VA. Financial terms of the deal were not disclosed.
Fahrenheit, founded in 2010, provides advisory, accounting & finance, and human resource services from offices in Richmond, VA, Metro Washington, DC, Raleigh, NC and Phoenix, AZ. The firm serves clients across all industries, ranging in size from emerging growth companies and angel, VC and private equity-backed portfolio companies to the Fortune 500.
Fahrenheit has been seeking to increase capacity in response to what is says is “rising demand” from clients for C-suite and specialty recruiting services.
“Fahrenheit’s talent acquisition division has been growing rapidly and we were looking for a good, strategic acquisition to continue that growth,” said co-managing partner Rich Reinecke. “In discussions with longtime friend and executive search industry veteran, Russ Bencks, a discussion of bringing our collective capabilities together resulted in a deal to have Bencks & Co. become part of The Fahrenheit Group, thereby enhancing our market-leading executive search and talent acquisition business.”
“We’re very excited to be bringing this partnership together,” said Mr. Reinecke. “Over his 20 years in the executive search business, Russ has led search engagements throughout the U.S. and Europe in a variety of industries and across multiple functional areas, from finance and human resource leadership to marketing, compliance and general management.”
In addition to running Bencks & Co., Mr. Bencks has also led merger and acquisition engagements both on the buy-side and sell-side. Prior to his recruiting career, he worked in the banking and media industries.
“Our firm has seen significant growth in terms of client needs and opportunities. As we integrate new services, we are especially interested in additions like Bencks & Co. that provide cross-service offerings and allow us to serve our clients in new ways,” said Keith Middleton, co-managing partner of Fahrenheit.
“I’m thrilled to be joining the Fahrenheit team,” said Mr. Bencks, who will become executive search managing director. “They have built a great reputation of providing highly impactful strategic consulting and advisory services to small and middle market companies. I look forward to bringing the depth and breadth of Fahrenheit’s expertise to my clients as well as partnering with their clients to help them build out their leadership teams.”
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media