Accretive Solutions, a national consulting and executive search firm, has acquired Chicago-based Adams Harris. Both companies focus their services on the finance, accounting and IT sectors. Adams Street Partners has backed the deal. Terms of the transaction were not disclosed.
Accretive Solutions, a national consulting and executive search firm, today announced that it has acquired Chicago-based Adams Harris LLC. Both companies focus their services on the finance, accounting and IT sectors. Terms of the transaction were not disclosed.
The acquisition is designed to bring together the strengths of both firms and enable Accretive Solutions to widen its national footprint. The combined company’s business model joins experienced talent with a local approach to deliver focused solutions including backfill/staff augmentation, project oriented resources, co-sourcing/outsourcing, thought leadership, and training.
“The Adams Harris team is experienced and is passionate about the same thing we are—providing world-class service to clients,” stated Richard Moran, CEO of Accretive Solutions. “By combining the teams in Chicago and building in new geographies, we can now accelerate our growth and expand our services to new and existing clients.”
The Company also announced that as part of the transaction it has received a significant investment from Adams Street Partners, a global private equity firm. Adams Street Partners has a long history of investing in growth-oriented, professional services firms with seasoned management, unique services, capital efficient business models and large addressable markets. Adams Street Partners joins Saybrook Capital and GoldenTree Capital as the primary investors in Accretive Solutions.
“We welcome Adams Street’s investment in the Company as Accretive Solutions has become the dominant private company in this space, and look forward to the growth opportunities this transaction represents,” said Jonathan Rosenthal, chairman of Accretive Solutions and co-portfolio manager at Saybrook Capital.
About Accretive Solutions:
Accretive Solutions is a national professional services firm solving problems in Accounting and Technology. Based in Chicago Illinois, the Company has 11 offices in seven states and more than 700 talented and experienced consultants providing solutions to companies – from startups to Fortune 500 – nationwide. For more than 30 years, Accretive has been a leader in providing flexible business solutions ranging from consultative services to staff augmentation to executive search to outsourcing. For more information, please visit: www.accretivesolutions.com
About Adams Street Partners:
Adams Street Partners is one of the largest managers of private equity for institutional investors, managing more than $22 billion of committed capital. The firm operates as one cohesive global team, integrating expertise in three disciplines: primary, secondary and direct investments.
About Saybrook Capital:
Saybrook Capital, LLC, based in Santa Monica, California, is a fund management firm with $550 million in assets under management that focuses on the municipal bond market, companies in the lower middle market throughout the U.S. and Canada and the real estate arena. For over two decades, Saybrook Capital, LLC has produced demonstrable results for some of the world’s largest and most respected public pension funds, corporations, endowments, foundations, family offices, and individuals.