ZRG Partners Acquires N2Growth’s Spain Business
September 22, 2026 – ZRG Partners has entered the Spanish market through the acquisition of the business formerly known as Blacksmith that had been doing business since 2023 under the umbrella of N2Growth. Through this integration, ZRG enters the Spanish market with an established local team and the goal of offering Spanish and international clients agile, high-touch advisory backed by the firm’s global platform. Alberto Herrero will lead the firm in Spain as managing director of ZRG and will also take on responsibility for leading the firm’s financial services practice across Europe. In this role, he will help drive the firm’s growth across Europe, where ZRG expects to evaluate additional acquisitions in the coming months.
ZRG’s team in Spain includes Mr. Herrero and Eduardo Aguilar, both managing directors, and Pilar Muñoz, managing associate, with an initial focus on financial services. They are joined by Veronica Vaquero, senior associate, and Lourdes Hernández, client experience manager. The firm expects to expand its Madrid team in the coming months to extend its coverage across additional sectors, consistent with ZRG’s model of pairing local senior operators with a global platform.
“Spain represents a strategically important market for ZRG and a natural extension of our growth across Europe,” said Larry Hartmann, CEO of ZRG. “The country sits at the intersection of European and Latin American business, creating unique opportunities for organizations navigating growth, transformation, and leadership succession. Alberto, Eduardo and the broader team bring outstanding relationships, sector expertise and market credibility, significantly strengthening our ability to support clients both in Spain and globally. Their addition also reinforces ZRG’s integrated platform, which helps organizations attract, develop and retain leadership talent through executive search, interim leadership, consulting and talent advisory services.”
In its first phase, ZRG will focus on financial services and private equity, practices where the Madrid team brings a particularly strong track record. Then, the firm expects to extend its activity into other strategic practices, with a particular focus on legal, consulting & professional services; energy, infrastructure & real estate; life sciences; and consumer & travel.
In Spain, the firm will continue to support leading companies, financial institutions, private equity firms, law firms, and professional services organizations, both domestic and international, through ZRG’s combination of local market knowledge and global reach.
“ZRG’s entry into Spain reflects the commitment of an international firm to a market with significant potential,” said Mr. Herrero. “Spain offers a highly attractive combination of talent and companies facing increasingly complex and global leadership needs. There is no doubt that Spain is now a hub connecting Europe and Latin America, while also attracting major investors from the United States, the United Kingdom, and the Middle East. We have a team with deep knowledge of the market and the ability to combine that local proximity with ZRG’s global reach and capabilities to support companies in their talent and leadership decisions. We also expect to continue investing in the team, whether through acquisitions or the recruitment of senior professionals who can deliver truly differentiated service to clients by leveraging the strengths of ZRG.”
Related: Inside The Deal: CEO Larry Hartmann Opens Up On ZRG’s Latest Strategic Acquisition
ZRG, founded in 1999, is a fast-growing global talent advisory firm with the financial backing of private equity investor RFE Investment Partners. It provides a full suite of executive, middle management, and customized search solutions through its offices in North America, Europe, South America, and Asia. The firm finds leaders across a broad spectrum of business markets, including aerospace, consumer, education, healthcare services, and solutions, industrial, life sciences, non-profit, private equity and venture capital, and technology. ZRG is based in Rochelle Park, NJ.
Recent Acquisition
ZRG also recently acquired Sterling Martin Associates, a Washington, D.C.–based executive search firm specializing in professional associations, trade organizations, and mission‑driven non-profit organizations. Mr. Hartmann said the acquisition reflects ZRG’s disciplined approach to growth. “This is not about scale for scale’s sake,” he explained. “Sterling Martin brings earned credibility in sectors where leadership decisions carry lasting consequences. Their addition meaningfully advances our ENSI platform and our ability to serve organizations whose missions extend beyond the bottom line.”
ZRG Partners Acquires FortiumZRG Partners has acquired Fortium, a Dallas-based search firm that provides fractional, interim, and project-based CIO, CTO, and CISO leadership. Financial terms of the deal were not disclosed. “Companies are making more nuanced decisions about leadership than they did even a few years ago, particularly in technology,” said Mark Viner, leader of interim solutions & project consulting at ZRG. “Fortium has built a leading position in interim and fractional technology leadership, bringing experienced operators into the business in a way that is aligned to the actual need, not a default org chart.”
“ZRG has built a strong foundation in the education, non-profit, and social impact space, and Sterling Martin meaningfully strengthens it,” said Rosa Morris, managing director and leader of ZRG’s education, non-profit & social impact practice. “They bring dedicated association expertise and judgment earned over time. Combined with ZRG’s reach and capabilities, this allows us to support boards with a sharper, more informed perspective when leadership decisions matter most.”
Founded by David Martin in 2006, Sterling Martin Associates has built enduring relationships with national associations and non-profit organizations, supporting leadership transitions at moments of growth, complexity, and transformation. The firm has advised organizations including the National PTA, the Society for Neuroscience, the American Association of Veterinary Medical Colleges, and the Ecological Society of America, among others.
Mr. Martin will join ZRG as managing director. He will be joined by a geographically diverse team of consultants and professionals located in the Washington, D.C. area, Chicago, and Denver, further enhancing ZRG’s national capabilities and client reach.
Related: ZRG Acquires Jamesbeck
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Executive Editor – Hunt Scanlon Media
