Vaco, LLC, a portfolio company of Quad-C Management, has acquired Lannick Group, a Toronto based professional recruitment and staffing firm specializing in finance, accounting and technology roles of all levels. Financial terms were not disclosed.
Brentwood, Tennessee based Vaco is a leading talent acquisition and consulting firm focusing in the areas of accounting, finance, IT, administration and executive search.
Quad-C Management acquired Vaco in 2014.
Including Lannick’s projected revenues of CDN $40 million for 2017, Vaco’s projected revenues for 2017 are expected to surpass US $458 million. As Vaco’s biggest acquisition to date, the purchase of Lannick not only expands Vaco’s reach, but also marks their entry into the Canadian market. This is the 14-year-old firm’s second international acquisition in four months.
“Vaco is talent centric, not location centric, so as exciting as it is to expand into the vibrant city of Toronto, it is even more thrilling to add the abilities and energy of this incredible Lannick team,” said Vaco Co-Founder and CEO, Jerry Bostelman. “As we worked out the complex deal points, it was obvious that alongside this creative, committed, culture-driven team, together we were stronger. Internally we will top grade our processes, connect our extraordinary players and collaborate about how we collectively become more impactful in the lives of our clients, candidates and consultants.”
“I am truly excited by this partnership and the complete alignment of culture and philosophy. Our clients will receive the same outstanding boutique-firm treatment while having access to a larger network of talent,” said Peter Jeewan, President & CEO of Lannick. “The right talent is the number one differentiator between successful and unsuccessful companies. Our business connections range from Fortune 500 companies to some of Canada’s leading government and nonprofit organizations, so it’s a huge asset that we will be able to add Vaco’s expertise and talent pool to our repertoire of services.”
“Of paramount consideration in this partnership are the endless new possibilities for our amazing people to grow, develop and benefit financially. Vaco’s access to capital and proven experience and history in promoting and developing from within will in no small way excite our emerging leaders. We are thrilled to begin this new and amazing chapter in our company’s history,” added Jeewan.
“Our objective is to become a significant player in Canada,” said Jim Dimovski, Chief Administrative Officer of Lannick. “With Vaco, we can serve many more markets, our candidate pool is significantly wider and our industry insights are far more holistic.”
photo credit: Lannick Group