Riordan Lewis & Haden has agreed to sell its portfolio company CyberCoders, an IT recruiting firm, to On Assignment, Inc. Riordan Lewis & Haden first invested in CyberCoders in 2009.
CyberCoders is a national recruiting firm that specializes in permanent placement of mid to senior-level professionals with experience in IT, engineering, healthcare and life sciences. The company is based in Irvine, CA (www.cybercoders.com).
During RLH’s term of ownership the revenue of CyberCoders has increased five-fold and EBITDA even more rapidly, entirely through organic growth. Since RLH’s investment, CyberCoders has been recognized numerous times as among the “best places to work” and the company’s founder and CEO, Heidi Golledge, was selected as an Ernst & Young 2013 Entrepreneur of the Year.
On Assignment (NYSE: ASGN) is a provider of in-demand, skilled professionals for temporary, contract-to-hire, and direct hire assignments in the IT, healthcare, and life sciences sectors. The company is based in Calabasas CA (www.onassignment.com).
Riordan, Lewis & Haden invests in high growth, lower middle market companies that have revenues from $20 million to $200 million. Sectors of interest include business services, healthcare, and government services. The firm currently manages over $600 million of assets and is actively seeking new portfolio companies. Riordan, Lewis & Haden is based in Los Angeles (www.rlhequity.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 12-3-13
