Stevenson Search Partners Receives Long-Term Investment from SixSibs Capital
March 6, 2024 – Fort Lee, NJ-based Stevenson Search Partners, a global life science executive search firm and a Hunt Scanlon Top 50 ranked search firm, has received a significant long-term investment from SixSibs Capital, a Milwaukee-based family-owned private investment company, in an effort to advance its expansion into a total talent solution company for the global life sciences market. The amount of the investment was not disclosed. “Stevenson’s long-term focus on quality, culture, diversity and partnership has been our driving force in providing leading-edge talent and services to our partners across the globe,” said Adam Bloom, president of Stevenson Search Partners. “We are thrilled with the opportunity to build on our foundation and grow our business with the support and collaboration of SixSibs Capital. Our ability to scale our capabilities is an important next step in our commitment to supporting the remarkable life science professionals who are dedicated to advancing medicines and improving lives.”
“This new partnership comes during an important time as the life sciences industry faces an emergence of tech bio, precision medicine and digital developments with a rising demand for advancements in science technology and biopharma innovation,” Stevenson Search Partners said. “This increased need coupled with an aging population and a shortage of innovative, experienced life science executives is propelling the urgency to find and develop the best and brightest leaders.”
“Our investment in Stevenson is timely and strategic, driven by the pressing call for innovation in the biopharma industry,” said Jack Wigdale, president and CEO of SixSibs Capital. “With long-term healthcare spending on the rise and a need for skilled human resources, Stevenson’s expertise in life sciences talent acquisition, combined with their deep network, positions them perfectly to meet this challenge. By providing additional investment in its people, process and technology, we aim to accelerate Stevenson’s growth in executive search, empowering them to leverage advancements and meet the evolving needs of the industry.”
With this investment, Stevenson Search Partners will expand in the U.S., United Kingdom and Europe. The firm aims to expand its services in talent development to continue to foster innovation and growth in the life sciences sector.
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SixSibs Capital is a family-owned private investment company based in Milwaukee, WI. The firm focuses on buy-and-hold investment opportunities, leveraging its patient capital base to partner with management teams to execute their long-term growth plans. SixSibs Capital manages a diverse portfolio, including private equity, venture capital and real estate investments, to create long-term value for its investors and management teams.
Serving the Global Life Sciences Sector
With more 40 years of experience, Stevenson Search Partners serves the global biotechnology, pharmaceutical, medical technology, health technology and CRO/CDMO sectors, with offices in the U.S. and the U.K. Founded in 1979, Stevenson’s expertise includes C-suite, research, clinical, development, commercial manufacturing, and corporate functions, and working with companies ranging from start-ups and academic spinouts to large pharma clients. Stevenson provides a collaborative, long-term approach to its clients with a global network and strategic talent mapping and pipelining and competitive analysis services.
Essex Bay Capital’s Strategic Investment Into HR Solutions
In the last decade, human capital solutions have become a red-hot space for institutional investment. No one understands this better than Franklin Foster, founder of Essex Bay Capital. Essex Bay is a small to mid-market PE firm with an eye on human capital markets. Mr. Foster has led direct investments into private companies for the last 17 years, and has been in the finance industry for over 20. Prior to founding Essex Bay, he was a managing director at Audax Private Equity, a leading middle market investment firm with over $9 billion of capital under management. At Audax, Mr. Foster led investments in the industrial, business services, healthcare and technology markets, among others, completing over 60 acquisitions.
At Essex Bay, Mr. Foster brings his personal investment philosophy, based on years as a successful operator, to every deal. He has found through experience that operators with a round approach have a higher rate of success. Mr. Foster has concluded that while cumulative experience matters, a growth mindset is the most fundamentally important driver for operating partners.
The search firm boasts an entrepreneurial and diversity-driven culture, with expansive industry expertise and broad international reach. In 2020, Stevenson expanded its operations with the opening of an office in the U.K., which also serves the E.U. and other regions, as part of its strategic growth in the global life science and healthcare area.
Mr. Bloom joined Stevenson in 2006 as a director and within a year became partner responsible for building the life sciences practice. In 2010, he was named president and assumed full oversight of enterprise operations and administration. When Mr. Bloom took the helm in 2010, he and his leadership team had grown Stevenson into a mid-sized firm focused exclusively on specialized therapeutic areas, technologies, and functions across the life sciences ecosystem. While serving as CEO, his passion is still in search and he balances his operational work with managing a diverse portfolio of clients.
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Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Executive Editor; Lily Fauver, Senior Editor – Hunt Scanlon Media
