September 27, 2019 – Professional services firm SolomonEdwardsGroup has acquired QUAD656, a certified women-owned executive search firm in the Delaware Valley with offices in Wayne, PA and Mount Laurel, NJ. Financial terms of the deal were not disclosed.
Since 2001, QUAD656 has been recruiting and placing senior talent across multiple disciplines, adding recruiting strength and a robust client base to SolomonEdwards’ existing portfolio. In return, the QUAD656 team is expected to benefit from SolomonEdwards’ infrastructure in marketing, salesforce automation, IT and HR administration.
QUAD656 adds the largest tenured recruiting staff in the Philadelphia region with 75 team members, including a team of interim professionals on assignment, search consultants and a temp services sales team that support a growing demand for talent across multiple disciplines in a labor-constrained market. QUAD656 recruits for a handful of sectors including accounting and finance, human resources and administrative, sales and marketing, information technology, enterprise resource planning, engineering and manufacturing, and insurance
“We are excited that QUAD656 is now part of the SolomonEdwards family, and we are delighted to have all four of the founding principals – Randi Goltz, Lori Marcus, Sheila Matthews and Patti Zajick – join the team,” said Ed Baumstein, founder, president and CEO of SolomonEdwards. “QUAD656’s owners and I have known each other for almost 30 years, having worked together at my previous company – Acsys Inc.”
“I believe that who you bring into your business is about having a common vision, a great cultural fit and business benefits for all involved parties,” said Ed Baumstein, founder, president and CEO of SolomonEdwards. “I am extremely confident that SolomonEdwards and QUAD656 align on all three areas and are equally focused on bringing exceptional talent to the marketplace.”
“QUAD656 will immediately benefit from a motivated parent company with the infrastructure and resources to help grow the business,” said Sheila Matthews, QUAD656 co-founder and principal. “Joining SolomonEdwards has already proven to be a catalyst for fresh thinking and an energized approach that will accelerate growth and market leadership.”
A number of private equity, staffing and advisory companies have acquired executive search firms over the past year. Here’s a sampling from the Hunt Scanlon Media archives:
LandrumHR, a Pensacola, FL-headquartered full-service human resources firm, acquired hrQ in Denver. The HR sector is hrQ’s bailiwick. The firm focuses exclusively on providing HR professionals for short- or long-term contract assignments and full- time hires as well as offering expertise on a variety of human resource consulting projects.
Consulting and people solutions business, New Street Group, acquired London-based search and leadership consultancy Wickland Westcott. Wickland. With over 40 years of experience, Wickland Westcott blends commercial judgement with psychological expertise to enhance organizational and individual performance.
Aleron Group, a global workforce and business solutions company, acquired TalentRISE effective immediately. Founded in 2008, TalentRISE supports companies in nearly every vertical — retail, manufacturing, technology, financial services, healthcare, life sciences, e-commerce, and more — with custom and comprehensive talent acquisition solutions.
The Power of Talent Ltd. (Bidco), an entity owned and controlled by investment funds managed by DBAY Advisors, has made a £98.7 million bid to acquire London-based recruitment firm Harvey Nash. David Morrison, investment director of DBAY, said his firm was pleased to have reached agreement with the Independent Harvey Nash directors.
Executive search firm Vaco was recently acquired by Stamford, Conn-based private equity firm Olympus Partners. Founded in 2002 by Jerry Bostelman, Jay Hollomon and Brian Waller, Vaco partnered with its first private equity partner, Quad-C Management, three years ago.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Andrew W. Mitchell, Managing Editor – Hunt Scanlon Media