FOR IMMEDIATE RELEASE
December 31, 2015
Richmond, VA – Transact Capital Partners is pleased to announce that Partnership Staffing, Inc., a Richmond, Virginia staffing company specializing in light industrial and clerical placements, has been acquired by CorTech, LLC. Transact Capital Partners served as the exclusive financial advisor to Partnership Staffing in the transaction. Terms of the transaction were not disclosed.
Partnership Staffing was founded in 2008 by Bill Auchmoody, a veteran of the staffing industry who acquired the existing contracts of another staffing company. He rapidly grew the company by combining the traditional approach with new technology and progressive ideas. Today, Partnership is a well-respected staffing partner for companies throughout Central Virginia and has developed a reputation for finding high quality personnel in an efficient manner.
CorTech, headquartered in Atlanta, Georgia, was the seventh fastest growing staffing company in the United States in 2015. Founded in 1999, the company provides industrial, IT, and healthcare staffing to clients across the country.
Patrick Morin, Managing Director at Transact Capital Partners, led the transaction for Partnership Staffing. Chuck Gabler, Leslie Garry, and Patrick Brown were also on the deal team.
Bill Auchmoody, owner of Partnership Staffing, stated, “I needed a cultural match, I needed a vision match. I got it in CorTech.”
Transact Capital Partners is a full-service mergers and acquisitions advisory, business brokerage, and valuation firm headquartered in Richmond, VA, with offices in Roanoke and Tidewater, VA, Lexington, KY, Orlando, FL, and Central Pennsylvania. Transact focuses on the needs of privately held companies in the lower middle market with enterprise values under $100 million. With extensive experience in owning, running, and investing in private companies or divisions of public companies, the firm’s principals are able to assist many business owners exit their companies or explore other opportunities. Securities and investment banking transactions are offered through Transact Capital Securities, LLC. Member FINRA and SIPC.
To learn more about this transaction, or Transact Capital Partners, please call Patrick Morin at 804-612-7103 (Patrick@TransactCapital.com), or contact Steve Zacharias at 804-612-7102 (Steve@TransactCapital.com). Additional information about Transact Capital Partners can be found at www.TransactCapital.com.
This transaction was also featured in Richmond BizSense.