Caltius Equity Partners has acquired a control stake in Diversified Human Resources Inc., an outsourced provider of HR, insurance brokerage, payroll processing and temporary staffing solutions. No financial terms were disclosed.
Caltius Equity Partners, in partnership with Kevin Mencarelli, former CEO of the West Coast Division of USI Insurance Services, has acquired a controlling interest in Diversified Human Resources, Inc (“DHR”). Founded in 1996, DHR is an outsourced human resource company that provides human resource and insurance brokerage services, payroll processing, and temporary staffing solutions for a broad range of clients. DHR is headquartered in Phoenix, AZ and has offices in Texas, Nevada, Colorado and California.
“We worked with Kevin for more than a year to identify a business services investment opportunity. Kevin is a seasoned business services executive with a track record of success, and we look forward to working with him and DHR,” said Michael Morgan, Managing Director of Caltius.
“I am excited to join a team that has built such a strong foundation; together with management, we will continue to improve and innovate new client services that expand the company’s reach and improve the value proposition to our clients across the country,” added Kevin Mencarelli, President of DHR.
“DHR’s strong presence in the marketplace and substantial growth potential are the direct result of the management team’s efforts over the past 13 years. We are extremely pleased to partner with DHR’s founder and CEO, Brian Lesk, along with Kevin Mencarelli to support the company’s organic and acquisition growth initiatives,” said Jeff Holdsberg, Operating Partner of Caltius.
Based in Los Angeles, Caltius Equity Partners has been making control and substantial minority equity investments in amounts of $5 million to $20 million since 1999. Caltius Equity Partners invests in the consumer and business services, education, healthcare services, and light manufacturing industries. For more information, please visit our website or call us at (310) 996-9566.