Staffing & HR Acquisitions in 2024

Buildforce has acquired Ladder, a Y Combinator-backed construction labor marketplace led by Alex Stewart. The deal expands Buildforce's footprint into the U.S. Southeast — adding Ladder's 200+ customers across six states and a network of more than 10,000 pre-screened electricians — with Ladder's founder remaining in a leadership role to grow the business in the region.

Conexus Recruiting has acquired CV Resources, a specialist staffing firm focused on finance and accounting placements, to deepen its Office of the CFO recruiting capabilities. The acquisition expands Conexus' footprint in Southern California and the Pacific Northwest and broadens its service offerings to cover interim and direct-hire roles across finance, accounting, IT, and HR.

Boca Raton-based healthcare staffing firm Health Advocates Network has acquired DiagnosTemps, a Dallas-based radiology staffing firm. The deal will expand Health Advocates Network’s allied staffing capabilities and scale its presence in Texas; DiagnosTemps will operate as a separate, Joint Commission–certified division led by its existing management team.

JobGet, an app-first hourly hiring platform, acquired Snagajob to combine reach and capabilities and create the largest hourly workforce job platform in the United States. Snagajob will operate as a standalone business within JobGet, expanding JobGet's reach to over 100 million hourly worker profiles and giving employers continued access to Snagajob's platform alongside JobGet's technology and features.

Korn Ferry has completed the acquisition of UK-based Trilogy International, a provider of digital interim talent across EMEA and the United States. The deal expands Korn Ferry's Professional Search & Interim capabilities and broadens its footprint in digital and interim talent solutions across EMEA and the U.S.; terms were not disclosed.

UK-based recruitment platform nGAGE Talent has acquired Science Solutions Recruitment Limited, a specialist life sciences and chemical engineering recruiter. The business will be rebranded into two niche brands, Smart4Sciences and Smart4Chemicals, and will continue to be led by founders Andrew Corness and Joseph Mulligan as part of nGAGE's strategy to expand its STEM-focused recruitment capabilities.

Paper Trails, a Maine-based payroll and HR services provider, has acquired Local Economy Payroll of Portland, Maine as founders Tom Gangewer and Jim Belanger retire. The two Local Economy employees will join Paper Trails to ensure a seamless transition for clients and continuity of payroll and HR services across Maine and New England.

Randstad NV has announced its intention to acquire Zorgwerk, a Dutch digital healthcare marketplace, to strengthen Randstad's specialized offering in the healthcare and care sector. The acquisition brings Zorgwerk's large network of healthcare professionals and skilling capabilities into Randstad's portfolio; the deal is subject to employee consultation and clearance by the Netherlands Authority for Consumers and Markets.

MPAY has acquired Web Payroll & Tax Solutions, a San Antonio-based payroll and digital payment provider, effective October 1, 2024. The deal expands MPAY's Payentry platform footprint and strengthens its presence in Texas as part of MPAY's ongoing roll-up strategy and third acquisition in 2024.

Eliassen Group, a strategic consulting and talent solutions firm based in Reading, Massachusetts, has acquired VIA Technical, an IT talent services firm serving the San Diego market. The acquisition expands Eliassen's Southern California footprint and broadens its access to mid-to-senior technical talent and services across areas like applications, network/systems infrastructure, and end-user support.

CareerBuilder LLC has completed the acquisition/combination of Monster Worldwide from Randstad N.V., creating a combined job-board business referred to as CareerBuilder + Monster. CareerBuilder is majority-owned by funds managed by affiliates of Apollo Global Management; the transaction is intended to consolidate scale and capabilities across both brands and better serve employers and job seekers.

Zirtual, a provider of virtual assistant services owned by PennSpring Capital, has acquired Double, an AI-powered executive assistant provider. The acquisition adds Double's experienced, college-educated executive assistants and its AI-driven matching and delegation software to Zirtual's platform as an add-on to the company's 2024 M&A activity.

Vangst, a Denver-based cannabis hiring platform, has acquired GreenForce, an Oregon-based cannabis temporary staffing agency that also operates in Arizona. GreenForce founder Ryan Rosenfeld will join Vangst as Chief Business Officer as the acquisition expands Vangst's temporary staffing capabilities and regional footprint.

True, a tech- and data-first global executive talent platform, has acquired Paradigm Search, a boutique firm that places engineering and product leaders. Founder Matt Johnson and the Paradigm team will join True's Product, Data & Technology practice to expand True's capabilities and global offerings in executive search and talent advisory.

BenefitHub, a portfolio company of Philadelphia-based Inverness Graham, has acquired Abenity, a Tennessee-based provider of private perks programs, to expand its employee perks and voluntary benefits offerings. Balance Point provided debt and equity financing to facilitate the transaction; terms were not disclosed and Abenity was advised by Lincoln International.

Xenspire Group, a Massachusetts-based staffing provider led by CEO Ram Konduru, acquired OneSource Professional Search LLC, a Mandeville, Louisiana-based technical and financial search firm focused on the oil and gas industry. The deal closed Sept. 6 (announced Sept. 16) as OneSource owners pursued full retirement; terms were not disclosed. The acquisition represents a strategic and geographic expansion for Xenspire.

Execupay, part of Vensure Employer Solutions, has acquired Professional Payroll, a Fort Lauderdale-based payroll and HR services provider founded in 2003 that serves more than 150 clients across all 50 states. The acquisition expands Execupay and Vensure's HR/payroll service capabilities and industry-focused offerings, notably for hospitality companies and medical practices.

DirectEmployers Association has acquired EqualityMagazines.com and its network of diversity- and veteran-focused job boards (BlackPerspective.com, Hispanic-Today.com, VeteransEnterprise.com, WIB-I.com). The purchase expands DirectEmployers' recruitment and OFCCP-compliance offerings by increasing job visibility to diverse talent pools and strengthening its DEI-focused job board network for member employers.

Sprockets, an AI-driven hiring platform for hourly workers based in Charleston, South Carolina, has acquired Boston-based HourWork, an AI-powered recruitment and employee-retention platform. The deal adds HourWork’s hiring and engagement capabilities to Sprockets’ product suite to accelerate growth and improve outcomes for hourly employers.

Payoneer has acquired Singapore-based employer-of-record and global payroll provider Skuad for $61 million in cash plus up to $20 million in potential earnouts (cash and equity). The acquisition brings Skuad’s global workforce and payroll capabilities — operating in 160+ countries and founded in 2019 — into Payoneer’s financial stack to strengthen its offerings for SMBs, freelancers and companies hiring internationally.

Instawork, the San Francisco-based hourly work staffing platform, has acquired AbleJobs, a Bengaluru-based career platform that provides placements and training for early professionals. AbleJobs — founded in 2019 and used by an estimated 3 million people with nearly 35,000 placements and backing from investors including Y Combinator and Elevation Capital — will see its founders join Instawork's team; financial terms were not disclosed.

ZipRecruiter has acquired Breakroom, a UK-based employer review and workplace-insights platform focused on frontline industries such as retail and hospitality. ZipRecruiter plans to keep Breakroom as an independent brand and launch the platform in the United States to bring community-powered job insights to its marketplace.

AccuSourceHR, a Phoenix-based provider of workforce screening solutions, has acquired Frasco Profiles, a legacy consumer reporting/employment screening agency headquartered in Burbank, California. The acquisition expands AccuSourceHR's service footprint and client offerings across healthcare, staffing, government, education, transportation and manufacturing industries; no financial terms were disclosed.

Los Angeles-based private equity firm LightBay Capital has made a strategic growth investment in Questco, a Certified Professional Employer Organization (CPEO) headquartered in metro Houston. The partnership will support Questco’s direct sales and channel expansion, technology investments, and pursuit of add-on acquisitions; Parallel49 Equity is referenced as the departing investor/partner.

G&A Partners, a national professional employer organization (PEO) headquartered in Houston, has acquired Denver-based Management Solutions Inc., a PEO and HR management provider founded by Rick VanDyke. VanDyke will remain with the business in a business development role as the firm is integrated into G&A’s expanding Colorado operations to broaden local capabilities and client reach.

Vensure Employer Solutions, a privately held HR/HCM technology and services provider headquartered in Chandler, Arizona, has acquired Westchester, Illinois–based Tandem HR, a full-service PEO and benefits brokerage. The acquisition expands Vensure’s PEO capabilities and Midwest footprint, adding Tandem’s client base (servicing over 20,000 worksite employees) and complementary HR services to Vensure’s platform.

Technology-powered talent advisory Sinecure, Inc. has acquired recruitment services firm Strategy Source to expand its talent offerings, adding non C-level retained search, RPO and contingency capabilities to its executive search practice. Strategy Source will join Sinecure's newly formed Sinecure Recruitment Services division and be led by Strategy Source CEO Laura Lasiter as Executive Vice President; financial terms were not disclosed.

Eastward Partners, a New York-based executive search and human capital consultancy, has acquired Press & Associates, a boutique executive search firm focused on sourcing technology leadership for private equity firms and their portfolio companies. The acquisition broadens Eastward's human capital research and tech-talent capabilities and integrates Press & Associates' PE-focused search expertise into Eastward's platform.

GQR, a global workforce solutions firm, has acquired Uniti Med, a healthcare staffing company, to strengthen GQR's healthcare staffing capabilities and expand its national coverage. The deal brings nearly 100 employees and approximately 500 contractors into GQR, enhancing its position across travel nursing, locum tenens and other healthcare staffing segments.

Vienna Parent Corporation (an SPV formed by Justin Christian) and its purchaser Vienna Acquisition Corporation completed a cash tender offer to acquire all outstanding shares of TSR, Inc. (NASDAQ:TSRI), taking the IT staffing firm private for $13.40 per share. The acquisition, by an affiliate of BCforward, expands BCforward’s workforce management and IT staffing capabilities and will result in TSR ceasing trading on the Nasdaq.

SLG Staffing (part of SLG Investment Holdings) acquired the Baton Rouge, Louisiana franchise office of Snelling Staffing (locally known as Snelling Industrial, formerly Link Staffing) and the staffing assets of KLS Inc. The deal expands SLG's local footprint in Baton Rouge and represents the 11th acquisition for parent company SLG Investment Holdings, according to CEO Sharon Gordon.

Investment funds affiliated with General Atlantic and Stone Point Capital completed an all-cash merger to acquire HireRight Holdings Corporation for an enterprise value of approximately $1.7 billion (cash consideration of $14.35 per share). HireRight, a Nashville-based provider of global background screening and workforce risk-management solutions serving roughly 37,000 customers, will be taken private and its common stock has ceased trading on the NYSE.

Chime has acquired Salt Labs, an enterprise employee rewards and incentives platform founded in 2022, and will integrate the Salt team and products into a new business unit, Chime Enterprise. The acquisition gives Chime direct access to Salt Labs’ employer relationships across transportation, hospitality, call centers and other frontline-facing industries to accelerate primary account growth and expand Chime’s employer channel capabilities; financial terms were not disclosed.

OneDigital has acquired PayCheck Connection, a Coeur d'Alene–based professional employer organization (PEO) that provides payroll, HR management, workers' compensation and compliance services. The acquisition expands OneDigital's Resourcing Edge PEO footprint into Idaho and strengthens its service offerings for small and mid-sized employers across healthcare, technology, construction and hospitality sectors.

Hueman People Solutions acquired PrincetonOne in a deal that closed June 6, 2024, expanding Hueman's recruitment process outsourcing (RPO) capabilities and industry expertise. The transaction (terms undisclosed) brings PrincetonOne's specialized RPO models and approximately 83 employees into Hueman, strengthening services for pharmaceutical, biotech, life sciences, manufacturing and industrial clients.

Arthur J. Gallagher & Co. acquired OperationsInc, LLC, a Norwalk, Connecticut-based HR consulting firm that provides HR, payroll, HRIS, talent acquisition and employee training services. Terms were not disclosed; David Lewis and his team will remain in Norwalk and report into Gallagher's Global Human Resources & Compensation Consulting leadership. The deal expands Gallagher's employee benefits consulting capabilities and service offering across U.S. clients.

Oxford Global Resources, a portfolio company of H.I.G. Capital, has acquired Linksap Europe Limited, a specialist SAP staffing firm. The acquisition expands Oxford's high-end SAP capabilities and geographic footprint in targeted European markets, with Linksap's co-founders and team joining Oxford to continue leading the business.

JobGet, the Boston-based app-first hiring platform, has acquired Wirkn, a Montreal-founded recruiting platform focused on mall, retail and restaurant hiring. The deal (closed May 24) brings Wirkn’s network of more than 17,000 mall, retail and restaurant locations and its ATS capabilities into JobGet’s frontline-hiring ecosystem; Wirkn’s CEO will remain as an advisor and the brand will continue for the foreseeable future. Terms were not disclosed.

WGNSTAR, a provider of managed workforce and asset lifecycle solutions for the semiconductor industry, has acquired Principal Service Solutions (PSS), a Modesto-based technical workforce provider. The deal expands WGNSTAR's capacity and geographic coverage to better serve the growing U.S. semiconductor market and consolidates its position as a market leader in semiconductor workforce solutions.

Keystone Partners, a Silver Oak Services Partners portfolio company, has acquired The Ayers Group, a New York–headquartered leader in executive coaching, leadership development and outplacement services, from Kelly Services, Inc. The acquisition expands Keystone's capabilities and presence in the New York metropolitan area and strengthens its career management and leadership development offerings.

Grand Rapids-based Sena Info Technologies made a strategic minority investment in Pathway Staffing, a purpose-driven talent acquisition start-up led by Shane Gianino. The partnership will leverage Sena Info's IT and staffing expertise to help Pathway Staffing scale its recruiting services, expand geographically across the Midwest and United States, and advance its community-focused hiring initiatives.

Accurate Background, a privately held global provider of background checks and workforce monitoring solutions, has acquired Orange Tree Employment Screening from Tonka Bay Equity Partners. The deal expands Accurate's screening capabilities and service coverage—including in healthcare—and strengthens its position in the employment background screening market. Financial terms were not disclosed.

Vensure Employer Solutions acquired San Antonio-based Execupay, a payroll, HR technology and services provider focused on small and mid-sized businesses. The deal — Vensure's 75th acquisition in six years — adds nearly 800,000 worksite employees to Vensure’s platform (raising its WSE count to about 4 million) and keeps Execupay CEO Gerald Stowers in place to continue leading the business.

Vangst, the cannabis hiring platform headquartered in Denver, has acquired CannabizTemp, the temporary staffing division of CannabizTeam, in a 50% cash / 50% stock transaction. The deal brings CannabizTemp's customers into Vangst's platform, expands Vangst's staffing capabilities and customer base (now ~1,700 customers), and allows CannabizTeam to focus on its executive search business.

Randstad Digital, the digital enablement arm of Randstad NV, has acquired Torc, an AI-powered talent marketplace that enrolls more than 25,000 digital professionals worldwide. The purchase expands Randstad Digital’s access to specialized digital talent (with emphasis in LATAM, the US and India) and accelerates its capabilities across cloud, data, digital engineering and customer experience delivery.

Kelly Services (Nasdaq: KELYA, KELYB) has completed the acquisition of Motion Recruitment Partners, LLC (MRP) from private equity firm Littlejohn & Co. for $425 million in cash plus up to $60 million of potential earnout. The deal expands Kelly's technology staffing, RPO/MSP, telecommunications, and government IT capabilities and is expected to accelerate revenue growth and EBITDA margin expansion.

Freeland Group, supported by investor MML Capital Partners, has acquired Asenium, a specialist in deploying freelancers skilled in ERP and CRM environments. The add-on expands Freeland's freelance talent pool and strengthens its presence across Europe and internationally.

Advanced RPO, a Chicago-based recruitment process outsourcing provider, has acquired Aspirant RPO, a Pittsburgh-based RPO firm. The deal expands Advanced RPO's footprint in the chemical and manufacturing sectors and adds capabilities such as employer branding and talent advisory to its client offerings.

G&A Partners, a Houston-based national PEO, acquired Teamworks Group, a Provo, Utah-based professional employer organization (PEO) and HR outsourcing provider. The transaction expands G&A Partners' presence in Utah County, adds local resources and relationships, and will allow Teamworks’ leadership to continue supporting staff and clients under the G&A platform.

First Tek, Inc. has acquired Cenergy International Services, Inc. in a strategic acquisition announced April 2024. Madison Street Capital acted as exclusive advisor to Cenergy; the purchase expands First Tek’s staffing and field services capabilities in the energy, aerospace and industrial sectors.