December 10, 2015 – ZRG Partners has entered into an agreement to acquire certain assets of Pyramid International, a 10-year old executive search firm located in Lausanne, Switzerland. As part of the asset acquisition agreement, AJ Ravenhorst, the firm’s CEO, will join ZRG as a managing director and a member of the firm’s global life science practice.
The transaction is scheduled for closing after the first of the year. Financial terms of the deal were not disclosed.
Mr. Ravenhorst brings 20 years of industry experience, a solid client base and a body of work in the medical technology sector.
“AJ adds a great dimension to our European team. The experience of Pyramid International through Europe provides further depth to support the growing needs of multinational medical technology firms,” said Adam El Din, head of global life sciences for ZRG Partners. “We are seeing a growing trend where solid boutique firms doing good search work are finding the advantages of aligning with ZRG Partners. We look forward to continuing to grow this area of our life science practice with the addition of the Pyramid team.”
“We are pleased to have identified ZRG Partners, who conduct their business at the same professional level of integrity, enthusiasm and standards as Pyramid International,” said Mr. Ravenhorst. “ZRG’s coverage of the U.S., APAC and South America expands our reach, and ZRG’s unique data and analytical tools like the candidate Z Score rating system will benefit new and existing clients. With the extensive support organization of ZRG, we look forward to expand our business of on time delivery of quality candidates to the global life science industry.”
ZRG Partners was named to the Hunt Scanlon Top 50 Americas recruiter rankings for the first time this year, recording a 45 percent revenue spike.
That growth has continued. In addition to this recent acquisition, ZRG expanded into Canada with the addition of David Kinley as managing director in its new Toronto office. He supports the firm’s growing private equity-backed recruiting practice where he has extensive experience in technology company search assignments.
Last month, former CTPartners’ recruiter Susan Baldwin joined ZRG as managing director to further build out the firm’s healthcare services practice. Her focus has been with healthcare payers, pharmacy benefit management, and specialty healthcare services companies.
In October, the firm added Rahul Kapur as managing director to support growth in the its payments and retail banking sector. Mr. Kapur has worked as a practice leader with several top consultancies including Cognizant, CapGemni, PricewaterhouseCoopers, Capco, and Mastercard Advisors.
In September, Richard Morford joined ZRG as managing director to help grow the firm’s global industrial recruiting practice and augment its efforts in the life sciences sector. He works out of the firm’s corporate offices in New Jersey and support his clients globally. Mr. Morford was most recently with RSVP Group US Inc., an executive search firm focused on the life sciences and chemicals industries.
This past summer former CTPartners recruiter Jim Aslaksen joined the firm in Chicago as managing director in its global industrial practice. He has over 20 years of experience in leading assignments for CEOs, board directors and other senior level executives for global industrial organizations, frequently working within the chemical and process industries markets.
Andy Talkington also joined ZRG from CTPartners. Mr. Talkington is based out of Houston where he is further building the firm’s global industrial practice. With more than 16 years of executive recruitment experience, Mr. Talkington previously served for two years as vice chairman and co-head of the global industrial practice at CTPartners, where his search practice was concentrated in placing top executives in board of director, CEO, and executive-level management positions within the industrial sector.
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media