PE-backed Eliassen merges with Principle Solutions Group

Eliassen Group, which is backed by Riverside Partners, has merged with Principle Solutions Group, an IT staffing firm. No financial terms were disclosed. The newly combined entity will be headquartered in Reading, Massachusetts.

PRESS RELEASE

BOSTON, Sept. 27, 2017 /PRNewswire/ — Eliassen Group (“Eliassen” or the “Company”), a leading IT talent solutions firm, announced Monday that it has combined with Principle Solutions Group (“PSG”), one of the fastest growing IT staffing firms in the country. This combination creates a premier IT staffing and consulting firm with broad geographical presence and expertise in multiple skill areas.

Over the course of Riverside Partners’ investment in Eliassen, the Company has grown substantially and expanded its geographic footprint and capabilities. The merger with PSG represents the latest chapter of this transformation. Through its 18 locations and relationships with over 600,000 highly-skilled professionals, the combined entity will provide a broad suite of services and experienced consultants to support its clients’ needs. It will have significant experience serving clients in multiple end-markets including financial services, healthcare, government, retail/consumer, utilities, and technology.

David MacKeen, CEO of Eliassen Group, will lead the combined organization. “We are thrilled to be joining forces with Principle Solutions Group,” said MacKeen. “It’s not often you find an organization that shares a common purpose, including an intense focus on business growth, exceptional client service, best-in-class consultant talent, and a commitment to fostering an inspired corporate culture that promotes excellent career opportunities.”

Josh Nazarian, CEO and co-founder of Principle Solutions Group, concurred, “Partnering with Eliassen puts the combined organization in a unique position within the marketplace. We are looking forward to remaining active in the business and enhancing our relationships with our clients by expanding our geographic footprint and strengthening our Agile, creative, and managed services capabilities.”

Joe Ventura, COO and co-founder of Principle Solutions Group, also commented, “We have a people-first culture that fosters both professional and personal growth, builds effective leaders and provides opportunity for talented individuals to achieve their goals. Eliassen is similarly focused, which is a key factor in our decision to combine forces.”

“The team at Riverside Partners is very excited about this combination which brings together two organizations with similar core values and cultures,” said Ian Blasco, a General Partner with Riverside Partners. “Both firms place a premium on truly understanding their clients’ and consultants’ needs and creating a differentiated experience among IT staffing firms.”

The combined organization will be headquartered in Reading, Massachusetts and will offer technology staffing, Agile, creative, life sciences, and managed services to clients around the country.

About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund V, L.P. The fund focuses on growth-oriented companies primarily in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. For more information, please visit www.riversidepartners.com.

About Eliassen Group
Eliassen Group provides strategic talent solutions to drive our clients’ innovation and business results. Leveraging nearly 30 years of success, Eliassen’s expertise in IT staffing, Agile consulting, creative services, managed services, and life sciences enables them to partner with clients to execute their business strategy and scale effectively. Headquartered in Reading, MA and with offices from coast-to-coast, Eliassen Group offers local community presence, deep networks, as well as national reach. For more information, visit www.eliassen.com.

About Principle Solutions Group
Founded in 2006, Principle Solutions Group delivers reliable information technology staffing and consulting services. Headquartered in Atlanta, the company has offices in Atlanta, Charlotte, Cincinnati, Raleigh, Richmond and Tampa; clients range from mid-market businesses to Fortune 500 firms. The company attributes its tremendous growth to its ability to help organizations achieve their business objectives and maximize their return on investment in people, process, and technology. For additional information, visit www.principlesolutions.com.