BROOKFIELD, WI – August 2, 2012 – Pinstripe, Inc., the nation’s leading pure-play recruitment process outsourcing (RPO) provider, today announced it has received an equity investment to support its strategic growth from Accel-KKR, a leading technology-focused private equity firm.
“Pinstripe’s reputation for delivering outstanding client results and having the best employees in the industry gave us the opportunity to choose from many interested financial partners,” said Sue Marks, CEO of Pinstripe. “We quickly became convinced Accel-KKR will provide the support and independence Pinstripe needs to break new ground and elevate the company to an unrivaled level of industry leadership.”
Pinstripe views Accel-KKR’s interest as an affirmation of the strength of the Human Capital and RPO industries and a reinforcement of the important role that independent providers will continue to play in the evolution of the offering. As consolidation has changed the competitive landscape, Pinstripe remains strictly focused on delivering customized, innovative talent and RPO solutions to clients who seek true transformation of their talent acquisition function.
“Pinstripe has demonstrated all the characteristics that Accel-KKR looks for: a top management team, proven market leadership, a world-class client base, a superior service delivery model and an industry-leading technology platform,” said Greg Williams, Managing Director at Accel-KKR.
“Sue and her team have demonstrated sustained and scalable growth since Pinstripe’s inception,” added Dean Jacobson, Principal at Accel-KKR. “We look forward to working in partnership with Pinstripe’s capable, experienced management team to facilitate the execution of Pinstripe’s ambitious growth plan.”
Pinstripe has been included on HRO Today magazine’s Baker’s Dozen list for four consecutive years, and was recently identified as a 2012 RPO Star Performer in the Everest Group PEAK Matrix. The firm also received the 2012 North America Recruitment Customer Relationship of the Year award from the Human Resources Outsourcing Association.
This investment will build on the growth Pinstripe achieved with its previous financial partners, Baird Venture Partners, CID Capital and the State of Wisconsin Investment Board. Raymond James & Associates served as financial advisor and Godfrey & Kahn S.C. acted as legal counsel to Pinstripe in connection with this transaction. The terms of the deal were not disclosed.
Accel-KKR is a technology-focused private equity firm with $2.3 billion in assets under management. The firm invests primarily in software and technology-enabled businesses well positioned for topline and bottom-line growth. At the core of Accel-KKR's investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through the significant resources available through the Accel-KKR network. Accel-KKR has a particular focus on buyouts and recapitalizations of family-owned or closely-held private companies, going-private transactions and divisional buyouts of larger companies. It invests across a range of structures, functions as minority or majority investors and commits a wide range of capital – from less than $10 million to over $100 million. The firm has offices in Menlo Park and Atlanta. For more information, please visit www.accel-kkr.com.