MSouth Equity Partners has acquired Hire Dynamics, a staffing company that specializes in call centers, manufacturing facilities, logistics, e-commerce operations and office support.
Hire Dynamics was co-founded in 2001 by CEO Dan Campbell and CFO Jon Neff. With this transaction closed, MSouth now holds a majority equity interest in the company while Mr. Campbell remains the largest individual shareholder. Mr. Campbell will remain with the company as executive chairman and Mr. Neff will continue in his role as CFO.
Effective May 15, Larry Feinstein will become the new CEO of the company. Mr. Feinstein was most recently a senior vice president at ADP, an outsourced provider of payroll services and human resources functions.
Hire Dynamics places an average age of 4,500 people to work every week and has approximately 550 clients. The company has 12 branch offices and 22 on-sites locations across Georgia, North Carolina, South Carolina, Tennessee, Alabama and Texas and is headquartered in Duluth, GA (www.hiredynamics.com).
“We are excited about our investment in Hire Dynamics,” said Peter Pettit, who led the transaction for MSouth. “Hire Dynamics has a long standing reputation for great people, service and consistent growth. Along with its standing as one of the top 1% of staffing companies in the US, it is also a ‘Best Places to Work’ in every market where it operates. We look forward to partnering with the Hire Dynamics senior team to grow the business.”
MSouth invests from $10 million to $50 million in lower middle market companies typically valued between $25 and $125 million. Sectors of interest include business services, distribution, specialty manufacturing, telecommunications and media. MSouth is headquartered in Atlanta (www.msouth.com).
“MSouth’s industry expertise and quality reputation for working with management teams was a natural fit for us. Their substantial capital and M&A experience will allow us to scale our business while building on our strengths of industry-leading internal employees providing superior service to our clients and jobs that matter for our talent,” said Mr. Campbell.
CHILDS Advisory Partners (www.childsadvisorypartners.com) was the financial advisor to Hire Dynamics.
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 5-3-16
