NASHVILLE, Tenn., Nov. 12, 2017 — Vaco, a leading executive search, consulting, placement, and strategic staffing firm based in Nashville, Tenn., has been acquired by Stamford, Conn-based private equity firm Olympus Partners (Olympus).
Founded in 2002 by Jerry Bostelman, Jay Hollomon, and Brian Waller, Vaco partnered with its first private equity partner, Quad-C Management, Inc. (“Quad-C”) in 2014. Since that time, Vaco has experienced significant growth through extending core business lines and entering new markets. Vaco completed seven acquisitions during Quad-C's ownership that significantly expanded its executive search practice, widened its breadth of services in healthcare IT and added new geographies domestically and internationally, including Canada and India.
“Vaco is exceedingly appreciative of Quad-C's contributions over our incredibly fruitful three-year partnership,” said Vaco Founder and CEO Jerry Bostelman. “Olympus brings that same fresh perspective and collaborative approach. Their contribution will be invaluable as we explore how to more cohesively deliver our complete solutions to clients, expand our service lines and geographies throughout the globe and institutionalize the essence of Vaco to ensure its eternal viability.”
Vaco operates more than 35 offices around the globe, with 780+ employees and 4,300 consultants worldwide. Vaco specializes in delivering people driven solutions and matching the strongest c-suite leadership, accounting, technology, healthcare IT, and administrative professionals with the unique project and permanent needs of its clients.
“In a relatively short period of time, we made significant investments in the company and were able to roughly double Vaco's revenues, while diversifying the company's end markets,” said Timothy Billings, a Partner at Quad-C. “Vaco has an exceptionally strong culture and leadership team and we wish them continued success during their next stage of growth.”
Jason Miller, a Partner at Olympus, remarked that, “Jerry, Jay, Brian, and the rest of the Vaco team have built a remarkable entrepreneurial culture that has led to impressive growth across multiple industries and geographies. We look forward to working with them to continue that success.”
William Blair & Company, L.L.C., and CHILDS Advisory Partners acted as financial advisors and White & Case LLP acted as legal advisor to Quad-C and Vaco in connection with the transaction.
Vaco provides boutique level service with global reach in the areas of executive search, consulting, permanent placement, and strategic staffing. Areas of expertise include accounting, finance, technology, healthcare IT, operations, administration and international managed services. Vaco has become a premiere talent solutions firm by attracting, developing and retaining the strongest players in the industry for their entire careers, so they are available to serve clients, candidates and consultants for the duration of theirs. Since its founding in 2002, Vaco has grown to more than 35 offices across the globe, 780+ employees, 4,300 consultants and $450M in revenue. Vaco has been named to Inc. magazine's list of the fastest-growing private companies for the past 11 years and is dedicated to developing long-term relationships, life-long careers and creative client solutions. Learn more about Vaco's capabilities and unique company culture at www.vaco.com
About Olympus Partners
Founded in 1988, Olympus manages over $5.5 billion on behalf of corporate pension plans, public retirement systems, university endowment funds, and the executives of Olympus' portfolio companies. The majority of their limited partners have been investors with Olympus for decades, and Olympus Growth Fund VI, their latest offering, has committed capital of $2.3 billion. For more about
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