NMS Capital has exited its investment in Charlotte, North Carolina-based ettain, a provider of information technology services to companies in need of temporary IT services and support. The exit was a result of the sale of ettain to Alvarez & Marsal Capital. No financial terms were disclosed.
New York, NY, October 22, 2019 – NMS Capital (“NMS”) announced today that it has exited its investment in ettain group, Inc. (“ettain” or the “Company”) through its sale to Alvarez & Marsal Capital (“AMC”). NMS invested in ettain in 2014 alongside the Company’s co-founders and management team.
ettain was founded by Jeff Harris and Brian Deblitz in 1996 in Charlotte, NC as a staff augmentation business providing information technology services to companies in need of temporary IT services and support. ettain grew significantly over NMS’ ownership tenure while diversifying its staff augmentation business with the addition of managed services and healthcare IT practice areas to become a leading national provider of talent solutions. Today ettain provides talent solutions to over 1,300 professionals nationwide with offices in 7 markets with a strategic focus on information technology, healthcare IT, and digital creative practice areas through a delivery model of recruitment solutions and managed solutions.
NMS’s investment in ettain was a result of its thematic sourcing and investment approach focused on capturing the broader positive trends in the IT market, primarily driven by a supply / demand imbalance for skilled IT resources. During its ownership, NMS supported ettain management and co-founders by expanding into new service lines, hiring key management personnel, and completing one strategic add-on acquisition. Total employment at ettain grew by 24% during NMS’ ownership.
“It has been a fantastic partnership with the ettain founders and management team over the life of our investment. We are extremely proud of the business they have built and their execution on the strategic plan we laid out together five years ago; growing from a regional traditional staff augmentation services company to a national provider of talent solutions. We look forward to following their continued success in the next evolution of growth with Alvarez & Marsal Capital,” said Kevin Jordan, Co-Founder and Managing Partner of NMS Capital.
Jeff Harris, co-founder of ettain added, “Working alongside NMS over the years has been a phenomenal experience. They truly took a partnership approach and provided key strategic guidance for the direction of the business and offered financial support to help us execute on our stated strategy.”
“We couldn’t be happier with our decision to partner with NMS in 2014 as their team brought experience, resources and insights to our organization, in addition to capital. They have been great partners throughout the years and we are very pleased with the outcome we were collectively able to achieve,” said Brian Deblitz, co-founder of ettain.
NMS Capital was advised by Houlihan Lokey and Greenberg Traurig in connection with the transaction.
About ettain group
ettain group is a leading talent solutions firm that delivers Recruitment Services and Managed Services in 3 practice areas: IT, Healthcare IT, and Digital Creative. From discovery to execution, we help our clients successfully design, develop, and deliver critical technology and business initiatives, from providing individual resources, to staffing and managing critical programs and projects, to running entire recruitment processes. Founded in 1996, with nearly 1,300 employees and consultants currently at work, we offer opportunities across North America, with offices in Charlotte, Dallas, Minneapolis, Nashville, Raleigh, Washington, D.C., and Winston Salem. For more information, visit www.ettaingroup.com.
About NMS Capital
NMS Capital is a New York headquartered private investment firm specializing in strategic equity investments and leveraged buyouts of lower middle market companies. The Firm was formed through the spin-out of a group of portfolio companies from the Goldman Sachs Merchant Banking Division. NMS focuses on companies headquartered in the U.S. poised to benefit from sustainable growth trends with particular concentration on companies in Healthcare Services and Specialized Business Services. For additional information on NMS, visit www.nms-capital.com.