Riviera Companions acquires Arete Companions, creates Riviera Ventures
A gradual wave of mergers, acquisitions and consolidations has swept the chief search trade for over a 12 months now. This newest acquisition targeted on recruiting executives for startups supported by Seed-to-B stage enterprise capital. Let’s go inside the newest provide!
March 11, 2021 – Acquisitions and consolidations proceed to dominate the recruiting trade, with various notable purchases in current months. Riviera Companions, a recruiting supplier specializing in C-level engineering, main product and design placements, has acquired Arete Companions. Monetary phrases of the deal weren’t disclosed. The Arete Companions workforce will kind the muse of Riviera Ventures and construct on its concentrate on startups supported by Seed-to-B stage enterprise capital. Eóin O ‘Toole, co-founder and CEO of Arete Companions, will lead the brand new Riviera Ventures unit. For the previous six years, Arete Companions has positioned government expertise for firms within the Seed-to-B scene with “an understanding that early management hires are critically necessary if startups are to achieve their full potential.” Riviera Companions stated in an announcement.
“The main target and specialization that our firms share makes us extremely appropriate and can assist us meet the prevailing and rising demand for recruiting expertise leaders,” stated Will Hunsinger, CEO of Riviera Companions. “With this acquisition and Arete’s experience, we considerably enhance our protection of the early stage market whereas bringing our unique expertise service providing to our mixed buyer base. Riviera Companions is “synonymous with start-up recruiting, a place obtained by a continuing concentrate on high quality and specialization,” stated Mr. O’Toole. “The Arete workforce has grow to be the chief in figuring out rising government expertise from the early phases of a startup,” he stated. “I’m each delighted and assured that the mixed entity – leveraging Riviera Companions’ proprietary ML platform – will ship even better worth creation for our enterprise companions, purchasers and candidates.
Riviera Companions began 20 years in the past with a imaginative and prescient to attach tech expertise with main rising firms. The corporate now focuses on inserting expertise leaders in start-ups and companies within the U.S. Over time, the corporate has leveraged its specialization in recruiting expertise executives by making a platform – proprietary kind that makes use of machine studying to attain, predict and match the most effective candidate for a particular enterprise wants and stage. “Knowledge-driven analysis has grow to be one thing of a holy grail for government search firms, with various options which have both been commissioned or are presently below improvement,” stated Scott A. Scanlon, CEO and co-founder of Hunt Scanlon Media. Riviera’s subsequent section of progress will now include the acquisition of Arete Companions, he stated.
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Riviera Companions is a worldwide recruiting firm specializing within the expertise sector. The agency gives its purchasers with optimum placements by combining the interactions and expertise of recruiters with outcomes based mostly on candidate knowledge. The corporate has recruited for key management roles at Pinterest, Postmates, Tinder, Twilio, Uber, Asana, Dropbox, GitHub, DoorDash, Hulu, and has partnered with firms backed by firms together with Andreessen Horowitz, Sequoia, Benchmark, Accel, Menlo Ventures, KPCB, Greylock and Common Catalyst.
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By machine studying algorithms, Riviera Companions identifies specialised and extremely certified candidates who meet the wants of a corporation from amongst 600,000 professionals from all technological geographies. Riviera can usually present a brief listing of candidates inside 30 days and has successful fee of over 95%. “Velocity and effectivity are what clients now need and demand from their expertise suppliers,” stated Scanlon, “particularly within the PE and VC world the place time is working out and worth creation must be accomplished. be accomplished at lightning velocity. ” Management expertise, he stated, is as a rule the important thing lever in all of this.
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To assist gasoline the expansion of the enterprise, Riviera Companions lately added two new members to its workforce. Jack Gage, beforehand at GLG (Gerson Lehrman Group), turns into vice chairman of channel technique and enterprise improvement, and Bobby Gormsen, who was at Body.io, is the corporate’s new director of government recruiting. Mr. Gage joins Riviera Companions with over a decade of expertise offering technique, information and expertise options to the world’s main institutional traders in the private and non-private markets.
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These are sobering days for government search companies all over the world. Most of them, no matter their measurement, location or specialization, have been caught off guard by some of the sweeping financial crises to hit the trade previously 12 months. Because of this, the nation’s prime analysis consultants have redefined expectations and in doing so set a brand new course for 2021.
Skilled providers companies – and government search groups particularly – have an extended historical past of weathering powerful instances. The COVID-19 pandemic isn’t any exception. Many analysis firms took benefit of this era to mud off their very own continuity and succession plans, or to rethink this merger or acquisition which was considerably inconvenient when instances have been rocky. Others have taken a detailed take a look at their capitalization methods. This disaster, like no different, has led lots of the greatest identified and revered manufacturers within the recruiting trade to re-evaluate all the pieces about their enterprise, from prime to backside.
Behind the scenes, it has been an lively interval for government search companies. To fulfill their consulting wants, Hunt Scanlon Media launched a brand new set of options final 12 months to assist search firms and expertise resolution suppliers searching for mergers, acquisitions or fundings. Founders Scott A. Scanlon and Christopher W. Hunt sit down to debate Hunt Scanlon Ventures and the state of the chief search trade.
“Jack brings to our workforce a confirmed observe report of constructing strategic partnerships within the personal fairness and enterprise capital trade,” stated Hunsinger. “His expertise constructing relationships with channel companions will create long-term worth for Riviera, our clients and their portfolio firms by offering the most effective technical expertise to the most effective firms.”
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Mr. Gormsen will concentrate on the East Coast and New York markets. He brings with him 15 years of expertise in expertise recruitment and management within the Silicon Valley and New York markets. “Bobby’s recruiting experience comes on the good time to satisfy the rising demand for technological expertise in key East Coast markets reminiscent of New York, Boston and Washington, DC,” stated Mr. Hunsinger. “He is aware of the best way to construct groups in technology-driven companies and capabilities, and we’re all excited to share this expertise with him for our purchasers.
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Latest M&A exercise
Acquisitions have stored the recruiting trade in flux. Here’s a pattern of current acquisitions from the Hunt Scanlon Media archives:
Corsica Companions, based mostly in Sarasota, Florida, acquired Benz Worldwide Group. Founding Accomplice Chris Benz has been appointed Managing Director and Follow Chief for Analysis Professionals. “We’re delighted that Chris and the Benz Worldwide workforce are becoming a member of our Corsica household,” stated Dan Veitkus, Managing Accomplice and CEO. “As a full-service expertise acquisition and consulting agency, we’re uniquely certified and deeply dedicated to extending versatile choices to our personal fairness, enterprise capital and household workplace companies,” he stated. -he declares. “We perceive that there are occasions when the popular resolution for our purchasers could also be to develop their inner recruiting capabilities by including distinctive recruiters to their workforce and leveraging our RPO capabilities. Our funding within the observe of analysis professionals for analysis underscores our dedication to offering agile options that present our purchasers with versatile choices and selections. “
ZRG Achieves Main Milestone in Sports activities, Leisure and Media with Acquisition of Turnkey Search. Renamed TurnkeyZRG, all Turnkey employees and property merge into ZRG and the corporate will proceed to be led by Len Perna, Founder, President and CEO of Turnkey. Turnkey will now undertake ZRG’s expertise and data-driven strategy to the analysis course of that it believes will give the newly merged firm a aggressive edge to find expertise in sports activities, media and leisure. Larry Hartmann, CEO of ZRG, referred to as the deal a “profitable acquisition”. Hunt Scanlon Ventures facilitated the introduction and transaction between ZRG and Turnkey, two long-time leaders in Hunt Scanlon’s rating of government search companies. “Len Perna has made Turnkey the nation’s most formidable sports activities recruiting model,” stated Scott A. Scanlon, CEO of Hunt Scanlon Media.
Caldwell has signed an settlement to accumulate IQTalent Companions. Based in 2009, IQTalent Companions gives expertise acquisition options to 300 firms, from Fortune 500s to startups throughout a variety of industries and capabilities in North America, Europe, Australia, Asia and North America. South. The corporate lately launched IQTalent Xchange, a market idea utilizing superior synthetic intelligence (AI) mixed with human experience to create a passive candidate market. The proprietary platform contains greater than 300 million professionals from all over the world, offering its purchasers with unprecedented entry to probably the most certified candidates.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, editor-in-chief; and Stephen Sawicki, Editor-in-Chief – Hunt Scanlon Media