Stone Point Capital has acquired Reading, Massachusetts-based Eliassen Group, a consulting and talent solutions firm. The seller was Riverside Partners. No financial terms were disclosed.
READING, Mass., Nov. 5, 2018 /PRNewswire/ — Eliassen Group, LLC (“Eliassen Group”) today announced that it has been acquired by funds managed by Stone Point Capital LLC, a private equity firm based in Greenwich, CT (“Stone Point Capital”).
Eliassen Group is a leading national strategic consulting and talent solutions firm focused on IT staffing, Agile consulting, creative services, managed services, government solutions, and life sciences. Founded in 1989 and based in Reading, MA, it has experienced tremendous growth over nearly thirty years and is well-positioned for continued long-term success.
With the move to Stone Point Capital, Eliassen Group joins one of the leading private equity firms that has a focus in financial services and a goal of helping companies grow and build lasting value through deep sector knowledge and the utilization of a vast network within the global financial services industry.
“We are thrilled to be partnering with the Eliassen team,” said Jarryd Levine, Principal of Stone Point Capital. “We believe Eliassen has built a differentiated business within the IT Staffing & Consulting sector that is positioned for continued growth and long-term success.”
Eliassen Group comes to Stone Point Capital as a former portfolio company of Riverside Partners. “We have witnessed first-hand the kind of growth Eliassen Group is capable of during the eight years of our partnership,” said Ian Blasco, a General Partner at Riverside Partners. “Eliassen has been an exciting investment for us, and we’ve truly enjoyed our successful relationship with the company.”
“With Riverside’s guidance and support, Eliassen has expanded its geographic presence and the breadth of its offerings while maintaining our award-winning culture that clients and consultants expect,” said David MacKeen, CEO of Eliassen Group. “Stone Point Capital is a great new home for the next phase of our company’s transformational growth and expansion, nationwide.”
About Eliassen Group
Eliassen Group provides strategic consulting and talent solutions to drive our clients’ innovation and business results. Leveraging nearly 30 years of success, our expertise in IT staffing, Agile consulting, creative services, managed services, government solutions, and life sciences enables us to partner with our 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 Stone Point Capital
Stone Point Capital LLC is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed seven private equity funds – the Trident Funds – with aggregate committed capital of approximately $19 billion. Stone Point Capital targets investments in the global financial services industry, including investments in companies that provide outsourced services to financial institutions, banks and depository institutions, asset management firms, insurance and reinsurance companies, insurance distribution and other insurance-related businesses, real estate finance and service businesses, specialty lending and other credit opportunities, mortgage services companies and employee benefits and healthcare companies. For more information about Stone Point Capital, visit www.stonepoint.com.
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund VI, L.P. The fund focuses on growth-oriented companies primarily in the technology and healthcare 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.