March 25, 2020 – Today, the private equity sector is the chief growth driver for executive search firms. PE firms are rapidly expanding their portfolio companies and along that pathway they need top talent more than ever before. In short, private equity firms are hungry for top level C-suite talent as their portfolio companies go through an explosive gritty phase.
At the same time, the PE sector as an investment source is also becoming a growing wellspring of capital for search firms to expand their businesses.
Just recently, New Heritage Capital, a Boston-based private equity firm, announced a new platform investment in DeWinter Group, a provider of temporary and permanent staffing solutions with expertise in finance, accounting and information technology. The transaction was structured using Heritage’s unique Private IPO solution, which leaves operating control in the hands of the reinvesting owners while providing them the desired liquidity and financial flexibility to accelerate future growth.
DeWinter has provided high-skilled staffing solutions in the San Francisco Bay area for 20 years, building a reputation for an unwavering commitment to serving its clients and candidates. Citizens M&A Advisory served as the exclusive financial advisor to DeWinter Group.
“We are thrilled to be partnering with New Heritage Capital,” said Shane Oberg, partner and CEO of DeWinter Group. “They have shown a track record of success in our industry and are committed to the growth of our company for many years to come.”
“In Heritage, we found a partner that understands the culture and legacy we have built and believes in our vision for the future,” said Derek DeWinter, founding partner and president of DeWinter Group.
“We believe that the combination of DeWinter’s reputation, deep and long-standing client and candidate relationships, and committed management team has driven the company’s success to-date,” said Judson Samuels, partner at Heritage. “We look forward to working with Derek, Shane and the entire DeWinter team to continue to drive that success going forward.”
Providing Liquidity and Growth Capital
New Heritage Capital is a private equity firm with a 20-year history of partnering with growing, middle market, founder-owned businesses. With its innovative investment structures like the Private IPO, Heritage provides founders with a combination of liquidity and growth capital while allowing founders to maintain control of their business. With decades of experience at managing growth, Heritage gives its partners the strategic, operational and financial guidance to help its companies reach their growth objectives.
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DeWinter Group is a San Francisco and Silicon Valley-based provider of accounting, finance and information technology professionals. It provides services on a consulting, contract, and executive search basis. Established in 2000, the DeWinter Group has built a reputation for quality, integrity and trust across the greater Bay area.
Recently, DeWinter Group’s retained executive search division, DeWinter Partners, added executive recruiter Rebecca Birkelund to the fold. “Whether the focus is on fundraising, strategic planning or building processes to drive efficiencies and scale, a creative, accountable and professional finance team is central to a company’s success,” said Ms. Birkelund. “I’m looking forward to leveraging my background in both finance and executive search to help clients build the best finance teams in the market.”
“I hope to spend a significant portion of my time meeting financial officers and soon-to-be financial officers,” she added. “Creativity in recruiting is key and at the executive level, it isn’t just about checking all the boxes. Creativity is only possible when a recruiter really takes the time to get to know a candidate.”
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media