Gemspring Capital has acquired TMP Worldwide. Financial terms weren’t announced. TMP, of New York, provides recruitment marketing software and digital services. VSS is the seller.
WESTPORT, CT–(BUSINESS WIRE)–Gemspring Capital, a private equity firm specializing in lower middle market companies, is pleased to announce an affiliate has partnered with the management team of TMP Worldwide (“TMP” or the “Company”) to acquire the Company, the leading global provider of recruitment marketing software and digital services.
TMP is the recognized global leader in talent acquisition technologies and offers clients a full suite of industry-leading solutions for needs across every end market and candidate profile. Through its TalentBrew software platform, TMP powers candidate experiences for the world’s largest employers and hundreds of millions of candidates annually. As digital and social channels continue to change the way employers interact with candidates, the Company specializes in finding new ways to leverage data and technology to improve candidate and employer outcomes. TMP is headquartered in New York City and serves its clients from 14 offices across the United States, as well as international locations in Brazil, Canada, Germany, France, the United Kingdom, India and Singapore.
Michelle Abbey, CEO of TMP Worldwide, said: “We are excited to partner with Gemspring on the next phase of growth for TMP. As the digital recruiting landscape continues to evolve, we remain committed to the innovation, client service and technology solutions needed to be the leader in today’s competitive talent market. This new partnership will provide additional resources and support to help serve our clients’ needs.”
Ms. Abbey and her management team will continue to lead the business and have made a significant investment in the Company.
Thomas Zanios, Managing Director at Gemspring, said: “TMP Worldwide is an extremely attractive platform opportunity given its market leadership, differentiated technology, commitment to customers and the strength of its deep management team. The Company’s integrated software and digital services provide a full service, high value-added solution to the largest and most sophisticated employers. We believe Michelle and her team have built the best recruitment marketing software and platform in a fast-growing industry, and look forward to partnering with them to continue TMP’s history of growth and customer service.”
Josh Miller, Vice President at Gemspring, added: “TMP is on the leading edge as sophisticated recruiting organizations look to understand and improve the effectiveness of their marketing spend. The capabilities developed by TMP leverage best-in-class technologies, industry-leading scale and unparalleled thought leadership to drive meaningful improvements in key performance indicators for recruiting organizations worldwide.”
About TMP Worldwide
TMP Worldwide is a global leader in talent acquisition technologies, committed to finding new ways to leverage software, strategy and creative to build talent and enhance our clients’ employer brands – across every connection point. Over the past 11 years – from healthcare to government to retail to technology and everything in between – we’ve revolutionized the way companies and candidates connect. For more information, visit www.tmp.com.
About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $355 million of equity capital under management, focuses on making control and structured equity investments in lower middle market companies headquartered in the United States and Canada. Gemspring partners with talented management teams and takes a hands-on approach to driving revenue growth and value creation. Target companies have up to $250 million in revenue and are in the business services, healthcare services, industrial services, software and tech-enabled services or specialty manufacturing sectors. For more information, visit www.gemspring.com.