BOSTON–(BUSINESS WIRE)–April 13, 2021– New Heritage Capital (“Heritage”) is pleased to announce the successful exit of its investment in The Execu|Search Group (“Execu|Search” or the “Company”). The Company has partnered with Mill Rock Capital and Intermediate Capital Group.
Founded in 1985 and headquartered in New York City, The Execu|Search Group is a leading direct hire recruitment, contract staffing, and workforce solutions firm with offices throughout the U.S. The Company specializes in highly skilled positions across a variety of markets, including healthcare, technology, pharmaceutical and professional services.
Heritage worked closely with the Execu|Search management team to execute a comprehensive strategic and operational growth plan, focusing the Company on its core industry verticals, executing strategic add-on acquisitions, and supporting its executive management transition.
“The guidance and support we received from Heritage was instrumental in the evolution into the platform that we are today,” said Larry Dolinko, Chief Executive Officer of Execu|Search. “Heritage was an outstanding partner over the last four years.”
Edward Fleischman, former Executive Chairman of The Execu|Search Group, added, “As the Founder of the Company, I sought a partner that could provide both strategic and financial support while ensuring the legacy, brand, and culture built over 35 years lived on. Heritage was that partner.”
“We are incredibly proud of what the Company and team has been able to accomplish during our partnership,” said Judson Samuels, Partner at Heritage. “It has been a pleasure working with them and we are excited to follow their continued success.”
Houlihan Lokey served as financial adviser and Latham & Watkins, LLP served as legal adviser to The Execu|Search Group.
About New Heritage Capital
Heritage is a Boston-based private equity firm with a twenty-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. For more information, please visit: www.newheritagecapital.com.
The above quotes are provided by Larry Dolinko, CEO of Execu|Search and Edward Fleischman, Executive Chairman of Execu|Search. Mr. Dolinko and Mr. Fleischman are not investors in any New Heritage Capital fund and were not paid for the quote included above. However, due to their position at Execu|Search, they may be inclined to have a favorable view of New Heritage Capital.