Ares Management has made an undisclosed investment into Insight Global, a provider of information technology staffing software. The deal is expected to close in the fourth quarter of 2012. No terms were released.
Insight Global, one of the fastest growing providers of information technology staffing solutions in North America and the leading pure-play IT temporary staffing firm, announced today an investment by Ares Management LLC. The transaction is expected to be completed in the fourth quarter of 2012, subject to various closing conditions. No terms of the investment were disclosed.
“We appreciate all of the effort by the Insight Global team since our original investment in 2010. Going forward, we are excited to partner with Ares and management by making a new investment to support future growth.”
“We are excited to continue building upon our strong momentum as the leading pure-play IT temporary staffing firm in our industry,” said Glenn Johnson, CEO of Insight Global. “This transaction will enable us to continue focusing on the company’s growth targets and its expansion into additional domestic markets in the coming years.”
Since its founding in 2001, all of Insight Global’s growth has been organic. The company now has 28 offices across the U.S. and fills approximately 18,000 IT staffing placements each year for a diverse group of clients.
“We believe Insight Global’s dedication to serving its clients will allow the company to continue expanding its footprint within the IT sector, and we are excited to partner with Harvest and such an outstanding management team,” said Matt Cwiertnia, Senior Partner at Ares Management LLC.
Jay Wilkins, Managing Director at Harvest Partners said, “We appreciate all of the effort by the Insight Global team since our original investment in 2010. Going forward, we are excited to partner with Ares and management by making a new investment to support future growth.”
About Insight Global:
Insight Global is an Atlanta-based organization that provides long term, short term, and temp-to-permanent technical staffing services throughout the United States and Canada. Since its founding in 2001, the company has grown to be recognized as one of the premier staffing companies in the country with 28 office locations in major metro markets. In 2011, Insight Global was recognized by Staffing Industry Analysts as the 8th largest IT temporary staffing firm in the U.S. and the 20th largest firm in the U.S. across all staffing sectors. For more information about Insight Global, visit www.insightglobal.net, follow us on Twitter, and become a fan on our Facebook page.
About Ares Management:
Ares Management LLC is a global alternative asset manager and SEC registered investment adviser with approximately $54 billion of committed capital under management and over 540 employees. The firm is headquartered in Los Angeles with professionals also located across the United States, Europe and Asia and has the ability to invest in all levels of a company’s capital structure – from senior debt to common equity. The firm’s investment activities are managed by dedicated teams in its Private Equity, Private Debt, Capital Markets and Commercial Real Estate investment platforms. Ares Management was built upon the fundamental principle that each platform benefits from being part of the greater whole. The synergies from this multi-asset class strategy provides investment professionals with insights into industry trends across the globe, access to significant deal flow and the ability to assess relative value. The Ares Private Equity Group pursues majority or shared control investments, principally in middle market companies with strong business franchises and world class management teams. For more information, visit www.aresmgmt.com.
About Harvest Partners:
Founded in 1981, Harvest Partners, LP (www.harvpart.com) is a leading New York-based private equity investment firm pursuing management buyouts and growth financings. Harvest focuses on acquiring profitable companies in the business and industrial services, manufacturing and distribution, midstream energy and consumer products and retail sectors. This strategy leverages Harvest’s over 30 years of experience in financing organic and acquisition-oriented growth companies.Related