William Blair acted as exclusive M&A advisor to Mill Rock Capital in connection with the acquisition of The Execu|Search Group (TESG), a portfolio company of New Heritage Capital. The transaction was announced and closed on March 29, 2021.
Transaction Highlights
- Deep sector expertise and relationships: Mill Rock was attracted to William Blair’s extensive understanding of the human capital management sector and healthcare talent market dynamics, as well as its highly relevant transaction experience. Since 2017, William Blair has advised over 25 companies in human capital M&A transactions, representing more than $15 billion in total transaction value.
- Long-standing relationship with The Execu|Search Group and New Heritage Capital: William Blair’s relationship with TESG management and New Heritage Capital enabled the transaction team to provide differentiated insights on the company’s market position and growth story.
- Trusted buyside M&A advice: William Blair was integrally involved throughout each step of the transaction process, collaborating closely with Mill Rock in refining a clear investment thesis, coordinating a comprehensive due diligence process, and advising on process strategy and tactics. The team’s role took on additional strategic importance as a result of the COVID-19 pandemic the unprecedented demands it placed on the U.S. healthcare system.
About the Companies
Mill Rock Capital is a growth and operations oriented private investment firm that invests in well-positioned middle market industrial businesses in North America. Mill Rock is purpose-built to invest in family-owned businesses, owner-operators and founder-led companies across six industry verticals in which the team brings more than 500 years’ direct operating experience. Focus sectors include chemicals, materials and packaging; industrial distribution; services; metals; transportation and logistics; and specialty manufacturing.
The Execu|Search Group (TESG) is a leading recruitment, temporary staffing, and workforce management solutions firm based in New York City, with offices throughout the U.S. including Boston, Chicago, and South Florida. TESG provides high-end, specialized, in-demand professional skill sets across the professional, healthcare, and technology verticals to a diverse set of clients in predominately non-cyclical industries, primarily through direct relationships.