ZRG closes significant investment from new and existing shareholders to accelerate growth of global talent advisory platform
ZRG, a global talent advisory firm and portfolio company of RFE Investment Partners, announced that it has secured a new secondary equity investment from a consortium of new and existing institutional investors led by Timber Bay Partners.
ZRG currently is a market leader in the global executive recruiting marketplace, and also provides interim/on demand talent solutions, human capital consulting services, and recruitment process outsourcing (“RPO”).
This new capital will accelerate ZRG’s acquisition and hiring efforts as the company continues to build-out a full suite of offerings to help clients solve people problems.
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In line with this strategic fundraising, ZRG announced on December 6 that is acquired Hub Recruiting, a Tech Enabled RPO provider to address volume hiring needs globally.
The new equity round included increased support from existing investors as well as a number of new institutions. RFE will manage the new equity consortium and will maintain a control equity position.
Concurrent with the new equity investment in the Company, ZRG also announced the closing of a new and expanded senior credit facility led by Truist Bank. Proceeds will be used to refinance existing debt and provide additional capital for future growth.
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“We see tremendous opportunity to acquire great businesses in the recruiting and talent advisory areas that will augment our organic growth across all of our business lines. The new equity capital and expanded credit facility provide ample dry powder for our organic and acquisition growth plans,” said Larry Hartmann, CEO of ZRG. “Additionally, we will continue to invest in our disruptive Zi technology platform and grow our interim and consulting businesses in tandem with our core executive recruiting deliverables.”
Michael Rubel, Managing Director at RFE, commented: “ZRG has an exceptional track record of supporting and growing acquired companies that have all thrived under ZRG’s resources and unique culture. This new capital accelerates our strategy of partnering with great new human capital people and brands.”
Atlantic-Pacific Capital served as exclusive global financial advisor and placement agent. Truist Bank served as the sole lead arranger for the new credit facility.
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