M&A Deal Summary

Stone Point Capital Acquires Eliassen

On November 5, 2018, private equity firm Stone Point Capital acquired staffing company Eliassen from Riverside Partners

Acquisition Highlights
  • This is Stone Point Capital’s 1st transaction in the Staffing sector.
  • This is Stone Point Capital’s 75th transaction in the United States.
  • This is Stone Point Capital’s 4th transaction in Massachusetts.

M&A Deal Summary

Date 2018-11-05
Target Eliassen
Sector Staffing
Buyer(s) Stone Point Capital
Sellers(s) Riverside Partners
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)

Target

Eliassen

Reading, Massachusetts, United States
website
Eliassen is a provider of strategic talent solutions to drive our clients' innovation and business results. Eliassen serves over 400 corporate, financial institution, and government clients providing recruiting and HR support for medium and high-end technology positions. The company operates 21 offices with a leading market presence in New England, North Carolina, and Georgia. Eliassen was founded in 1989 and is based in Reading, Massachusetts.

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Buyer(S) 1

Buyer

Stone Point Capital

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1994
PE ASSETS 25.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stone Point Capital is a private equity firm that targets investments in financial services sector. Specific areas of interest include insurance underwriting, outsourcing service providers to financial institutions, specialty lending and other credit opportunities, employee benefits and healthcare, asset management/retirement savings, and banking/depository institutions. Stone Point looks to commit between $5 and $500 million of equity per transaction and will consider control or substantial minority positions. Geographic areas of interest include North America and Europe. Stone Point Capital was formed in 1994 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 87 of 103
Sector (Staffing) 1 of 1
Type (Secondary Buyout) 17 of 24
State (Massachusetts) 4 of 5
Country (United States) 75 of 90
Year (2018) 8 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-26 Beeline

Jacksonville, Florida, United States

Beeline is an independent provider of cloud solutions for sourcing and managing the complex world of contingent labor that enables companies to increase profitability and flexibility by utilizing an agile mix of employee and non-employee talent. The company's software helps procurement, sourcing, and human resources professionals optimize costs, reduce risks, and add value to their services procurement and contingent workforce programs. It delivers innovative technology, end-to-end global and localized customer engagement services, and value-added capabilities which help many of the world's largest enterprises meet their most critical talent needs. Beeline was formed in 1999 and is based in Jacksonville, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-26 Oasis Outsourcing

West Palm Beach, Florida, United States

Oasis Outsourcing is a Florida-based Professional Employer Organization (PEO) serving almost 230,000 employees and 7,500 clients nationwide. Founded in 1996, it specializes in providing human resources services, employee benefits administration, payroll and tax administration, risk management services and staffing solutions to small- and medium-sized businesses throughout the United States. Oasis is accredited by the Employer Services Assurance Corporation (ESAC), ensuring the highest level of ethical, financial and operational standards in the PEO industry and has received SOC 1 Type II (formerly SAS 70) certification for its high level of accuracy and performance. Oasis, through its subsidiaries, is qualified to offer IRS-certified professional employer organization (CPEO) services.

Sell $1.2B

Seller(S) 1

SELLER

Riverside Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Riverside Partners is a specialist private equity firm focused on investments in healthcare and technology companies located throughout North America. The Firm has a particular interest in companies that are founder or family owned. Target companies are generally profitable with $3 to $15 million of EBITDA. Specific areas of interest within healthcare include suppliers to biopharmaceutical and medical device companies, medical technology and equipment, medical instrumentation, dental products and services, diagnostics and disposables, and specialized healthcare services. Areas of interest within technology include, analytical instrumentation, semiconductor equipment, industrial communications, wireless components, homeland security, and power generation technology. Transaction situations include partial or complete buyouts, recapitalizations, growth equity, divestitures, take privates, and strategic add-ons. Riverside Partners was formed in 1989 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 26 of 32
Sector (Staffing) 1 of 1
Type (Secondary Buyout) 8 of 10
State (Massachusetts) 3 of 4
Country (United States) 26 of 32
Year (2018) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-02 BioAgilytix

Durham, North Carolina, United States

BioAgilytix is a bioanalytical testing laboratory focused on large molecule bioanalysis for the pharmaceutical, biotechnology and agriculture industries. BioAgilytix Lab's mission is to provide outsourced analysis of biological samples that support the work of companies seeking regulatory approval of their biopharmaceutical and agricultural products. BioAgilytix was founded in 2008 and is based in Durham, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-03 HealthDrive

Framingham, Massachusetts, United States

HealthDrive is a provider of medical and dental services in over 2,000 facilities, serving more than 200,000 enrolled senior living residents across four practices around the nation. HealthDrive was founded in 1989 and is based in Framingham, Massachusetts.

Sell -