Insight Global, a provider of information technology staffing services and a portfolio company of Harvest Partners, has received an investment by Ares Management. The transaction is expected to be completed in the fourth quarter of 2012.
“We believe Insight Global’s dedication to serving its clients will allow the company to continue expanding its footprint within the IT sector, and we are excited to partner with Harvest and such an outstanding management team,” said Matt Cwiertnia, Senior Partner at Ares Management.
Insight Global provides long term, short term, and temp-to-permanent technical staffing services throughout the United States and Canada. Since its founding in 2001, the company has grown to be recognized as one of the premier staffing companies in the country with 28 office locations in major metro markets. In 2011, Insight Global was recognized by Staffing Industry Analysts as the 8th largest IT temporary staffing firm in the U.S. and the 20th largest firm in the U.S. across all staffing sectors. The company is based in Atlanta (www.insightglobal.net).
Ares Management has $54 billion in capital under management and invests in private equity, leveraged loans, high-yield bonds, distressed debt and private debt. The firm has approximately 450 employees and is headquartered in Los Angeles, CA with offices in New York, London Chicago, and Atlanta (www.aresmgmt.com).
“We appreciate all of the effort by the Insight Global team since our original investment in 2010. Going forward, we are excited to partner with Ares and management by making a new investment to support future growth,” said Jay Wilkins, Managing Director at Harvest Partners.
Harvest Partners invests in management buyouts and growth financings. Sectors of interest include business and industrial services, manufacturing and distribution, healthcare, midstream energy, and consumer products and retail sectors. The firm was founded in 1981 and is based in New York (www.harvpart.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 10-10-12