Pinstripe, a portfolio company of Accel-KKR, said Thursday that it has acquired the UK-based Ochre House. No financial terms were disclosed. Also included in the transaction are TAAHEED and Carmichael Fisher, two strategic resourcing firms that Ochre House acquired in 2012. Ochre House is an international provider of recruitment outsourcing and talent management.
BROOKFIELD, WI & London, UK – July 18, 2013 – Pinstripe, Inc., the leading pure-play Recruitment Process Outsourcing (RPO) provider, today announced that it has joined forces with UK-based Ochre House to form the largest independent provider of global RPO and strategic talent management solutions. Financial investments from both leadership teams and leading technology-focused private equity firm, Accel-KKR, enabled the transaction.
Pinstripe and Ochre House’s combined global presence includes 767 employees, serving 88 clients in 43 countries around the world. This footprint includes Ochre House’s 2012 acquisition of two leading strategic resourcing firms in the Middle East and North Africa, TAAHEED and Carmichael Fisher.
“Both Pinstripe and Ochre House are known for creating transformational talent solutions, which led us to become strategic partners in 2009. Today’s announcement brings together the best and most experienced talent available to break new ground for our clients and the industry,” said Sue Marks, chief executive officer of the combined organization. “Together, we are creating an organization with global reach, a greater breadth of strategic solutions, technology-enabled services and a shared approach to unsurpassed customer care and responsiveness.”
Attracting and retaining business critical talent is a significant challenge facing many multinational companies as they operate and expand in different parts of the world. The integration of Ochre House’s global network with Pinstripe’s industry-leading services is a clear answer to the growing demand for a single, dedicated provider of end-to-end talent solutions worldwide.
“Pinstripe and Ochre House’s combined strength will become the new benchmark for global RPO and talent management solutions,” said Chris Herrmannsen, executive vice president for the combined organization. “We intend to further expand our footprint into emerging markets and provide our clients with a powerful, unified solution for navigating today’s increasingly competitive talent marketplace.”
“By bringing Pinstripe and Ochre House together, clients gain deeper access to our greatest asset, our locally-based talent experts across the globe,” said Sue Brooks, executive vice president for the combined organization. “In addition, it opens the door to new growth opportunities for our employees.”
“This move further enables our vision to bring best-in-class talent and executive search solutions to a worldwide client base. We look forward to providing our clients with the additional services needed to achieve competitive advantage through talent,” said Craig Pointon, executive vice president for the combined organization.
The transaction was completed through backing from Pinstripe’s strategic equity partner, Accel-KKR, with the integrated executive management team maintaining a significant financial stake in the new organization.
“Accel-KKR’s support in bringing together Pinstripe and Ochre House underscores our belief in the power of these two industry leaders and the growth potential we see for multi-country RPO service delivery,” said Greg Williams, managing director at Accel-KKR. “Both Pinstripe and Ochre House embody characteristics that our firm looks for: a top management team, proven global leadership, a world-class client base and exceptional technology platforms; and together they are poised to quickly redefine the global talent acquisition and management industry.”
Pinstripe and Ochre House’s success has been recognized industry-wide. Pinstripe was ranked as a “10 Best” RPO Provider by HR Executive and the Outsourcing Institute and was identified as a 2013 RPO Leader & Star Performer in the Everest Group PEAK Matrix. Pinstripe also received the 2012 & 2013 North American Recruitment Customer Relationship of the Year awards from the Human Resources Outsourcing Association. Both Pinstripe and Ochre House have been repeatedly ranked on HRO Today magazine’s “Baker’s Dozen” lists of top RPO providers and Ochre House was recognized as one of the top four organizations with the most experience in multi-region RPO in the 2013 Everest Group PEAK report.
The terms of the acquisition and plans for integration were not disclosed. The four companies, Pinstripe, Ochre House, Carmichael Fisher and TAAHEED, will continue to operate independently in the regions they currently serve, with integration viewed as a future state. For more information, please visit ochrehouse.pinstripe.com.
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“The Pinstripe and Ochre House partnership has already proven to be one of the most successful in the industry, attributed to sharing complimentary values and a keen focus on talent management,” said NelsonHall HR outsourcing research director, Gary Bragar. “Together, they are a force to be reckoned with as leaders in best-in-class recruitment practices and in the more value-added RPO services.”
“As the RPO industry continues to evolve, organizations increasingly look to capture business and strategic impact through their RPO initiatives. Further, globalization imperatives are driving them to seek a global partner,” said Rajesh Ranjan, vice president of business process outsourcing research at Everest Group. “The combined Pinstripe and Ochre House organization has the potential to offer a global model to meet these strategic objectives.”
“Pinstripe is one of the largest and fastest growing RPO firms in the U.S., as is Ochre House in Europe. Their combination is a potent merger of independent RPO firms that now has to be considered a top global player. Both companies have great track records of delivering complex and highly customized solutions, and their reach across North America, Europe and the Middle East make them a top choice for companies looking for multi-country solutions,” according to Elliot Clark, CEO of HRO Today.
“This is good news for Smiths Group. We have been working with Ochre House and Pinstripe on providing multi-country RPO services as part of our global HR transformation and they have also worked with us on strategic consulting projects,” said Terry Nolan, HR director at Smiths Group. “This new entity will be a very important partner in helping us attract great talent into our global portfolio of world class businesses.”
“As we expand our global footprint, we sought a talent solutions provider that could scale with us, providing the recruitment expertise and operational excellence we need in the markets into which our businesses take us,” said Nury Plumley, Agilent Technologies, Americas and Europe Staffing Manager.
“We are delighted to have worked with an exceptional and highly committed management team and to have played a role in building Ochre House into a leading multi-regional RPO player,” said Belinda Berkeley, Private Equity Investment Director of Ochre House for NBGI Private Equity. “It is credit to management that they kept the business focused on the high value strategic hiring demands of blue chip clients, a market that has continued to grow ahead of the broader recruitment market. This investment shows our commitment to investing in companies with compelling value propositions.”
About Pinstripe, Inc.
Pinstripe, Inc. is North America’s leading independent recruitment process outsourcing (RPO) provider. Pinstripe delivers customized solutions that help clients align talent strategies to business objectives. Consistent with Pinstripe’s brand promise WE BECOME YOU™, dedicated recruitment teams act as an extension of the human resources function, providing a tailored candidate experience reflective of the client’s brand, values and culture. Pinstripe primarily services clients in the healthcare, advanced manufacturing, financial services, life sciences and technology industries. For more information, please visit www.pinstripe.com or engage with us on LinkedIn, Facebook, Twitter, YouTube or our blogs.
About Ochre House
Ochre House is a major international player in recruitment outsourcing and the wider talent management field, with regional hubs in Europe, Asia and latterly in the Middle East under the Carmichael Fisher & Taaheed brands. Named by top outsourcing analysts, NelsonHall, as one of the world’s leading providers of full end-to-end recruitment process outsourcing, Ochre House focuses on all key aspects of the talent pipeline – engagement, development and retention – to deliver Total Workforce Management. More information on Ochre House is available at www.ochrehouse.com.
Accel-KKR is a technology-focused private equity firm with $2.3 billion in assets under management. The firm invests primarily in software and technology-enabled businesses well positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through the significant resources available through the Accel-KKR network. Accel-KKR has a particular focus on buyouts and recapitalizations of family-owned or closely-held private companies, going-private transactions and divisional buyouts of larger companies. It invests across a range of structures, functions as minority or majority investors and commits a wide range of capital – from less than $10 million to more than $100 million. The firm has offices in Menlo Park and Atlanta. For more information, please visit www.accel-kkr.com.