McNally Capital Announces Investment in Re-Sourcing Holdings
CHICAGO--(BUSINESS WIRE)--Jan 16, 2020--
McNally Capital announced today an investment in Re-Sourcing Holdings (Re-Sourcing), a leading provider of strategic staffing, consulting, and direct hire solutions, focusing on Compliance, Legal, Information Technology, Finance & Accounting, and HR positions. Re-Sourcing serves clients through six premium brands: JW Michaels & Co., Compliance Risk Concepts, ExecuSource, Perennial Resources International, Partnership Employment, and Technology Navigators.
“Re-Sourcing has established itself as a leader in its markets, and we are excited to partner with them as they continue their impressive history of growth,” said Adam Lerner, Partner at McNally Capital. “Our partnership with the Re-Sourcing team is consistent with our thesis of collaborating with best-in-breed owners and managers of businesses to help them achieve their long-term growth objectives. One of our primary investment theses focuses on the staffing industry, and we are excited to have completed this platform investment.”
Joseph Kelly, CEO of Re-Sourcing, said, “My business partners and their teams have worked tirelessly to develop successful brands that stand out in the staffing industry. Equipped with additional capital, we’ll continue to grow our world-class team of staffing professionals and consultants, both organically and through additional add-on acquisitions. Partnering with McNally Capital will aid my partners and me in pursuit of our goal to build one of the fastest growing and most profitable companies in our industry.”
McNally Capital and Re-Sourcing Holdings are actively seeking add-on opportunities, specifically targeting lower mid-market temporary staffing firms in primary, secondary, and tertiary cities in the United States.
McNally Capital completed this transaction in line with its model of partnering with management teams, industry experts, and family offices to provide additional resources for its portfolio companies. Among others, Jeff Bowling, founder and former CEO of The Delta Companies, a Dallas-based staffing company, participated alongside McNally Capital in the due diligence process and as a co-investor in the transaction.
Bowstring Advisors acted as the financial advisor to Re-Sourcing. McDermott, Will, & Emery acted as legal advisor to McNally Capital.
Re-Sourcing is a leading provider of strategic staffing, consulting, and direct hire solutions, focusing on Compliance, Legal, Information Technology, Finance & Accounting, and HR positions. The Company serves clients through six premium brands: JW Michaels & Co., Compliance Risk Concepts, ExecuSource, Perennial Resources International, Partnership Employment, and Technology Navigators. Founded in 2003, the company is headquartered in New York City with 15 offices in nine markets. Re-Sourcing’s differentiated operating partner model has enabled a strong focus on building direct relationships with clients to bolster retention and deepen understanding of client needs.
About McNally Capital
McNally Capital is a family owned private equity firm & merchant bank targeting thesis-driven investments in the U.S., specifically founder and management-owned companies. Formed by the McNally family, who owned and operated Rand McNally & Company, McNally Capital is dedicated to upholding a 140+ year legacy as a family-owned and operated company. With an emphasis on partnership, we harness the financial, intellectual, and human capital of our family office ecosystem to build value for family office investors, management teams and operating companies. We maintain a private network of over 800 family offices with whom we collaborate to make and manage direct investments. Re-Sourcing is McNally Capital’s 8th direct investment. For more information, please visit: www.mcnallycapital.com.
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CONTACT: Adam Lerner
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS NEW YORK
INDUSTRY KEYWORD: FINANCE CONSULTING BANKING PROFESSIONAL SERVICES HUMAN RESOURCES
SOURCE: McNally Capital
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PUB: 01/16/2020 09:00 AM/DISC: 01/16/2020 09:01 AM