The Panther Group, a Certified Minority-Owned Business (MBE), has acquired Enterforce. Financial terms of the deal were not disclosed.
This is technology M&A deal number 45 that ChannelE2E has covered so far in 2023. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
The Panther Group Acquires Enterforce
The Panther Group, founded in 1992, is based in Maynard, Massachusetts. The company has 151 employees listed on LinkedIn. The Panther Group's areas of expertise include engineering, administrative, information technology, accounting, finance, healthcare, legal, contingent workforce, clerical, customer service, managed services, payroll services, manufacturing, aerospace, automotive, and human resources.
Enterforce, founded in 2001, is based in Pewaukee, Wisconsin. The company has 31 employees listed on LinkedIn. Enterforce's areas of expertise include MSP, staffing, recruiting, temporary workers, managed service provider, RPO, direct hire, intern programs, contingent labor, independent contractors, payrolling, recruitment outsourcing, talent management, consulting, workforce management and vendor management system.
The acquisition brings Enterforce's managed services provider (MSP) enterprise into a business unit of The Panther Group and will expand the combined companies' portfolio of workforce and talent acquisition solutions and offerings.
Marie O'Brien, founder and chairman emeritus of the board of Enterforce, commented on the news:
"We are excited to be an integral component of The Panther Group. Enterforce's philosophy has always been to focus on our customers and our team, with a passionate desire to take care of both. Our customers will benefit from the vertical integration and seamless depth of expertise of our combined teams to support customers nationwide and globally. Our team members will be able to grow and prosper as The Panther Group grows within the talent acquisition market. It is a natural synergy, and we are excited that the collaboration of the combined teams, and the breadth and depth of their knowledgebase, will be unsurpassed in the industry! This acquisition shows our commitment to continue to invest in bringing better solutions to our customers in the talent acquisition markets."
Sean Cogdell, CEO, The Panther Group, added:
"This acquisition is viewed as a joining of two extraordinary companies very similar in experience and culture, with practice strengths that are highly complementary and that will enable us to provide a new and broader set of services to our clients. The synergies and increase in scale will enable The Panther Group and Enterforce to continue delivering exceptional talent, exceptional service, and world-class human capital solutions to a broader market base. The sales growth opportunities and operational efficiencies to both organizations with its forward-focused business strategy is exponential."
Talent Acquisition M&A Activity
M&A activity in the IT staffing market remains strong.
Although IT staffing business valuations are rarely announced, it’s clear that strategic buyers, investors and private equity firms maintain a strong interest in the IT staffing market.
Why’s that? Surely, the talent shortage across cybersecurity, multi-cloud services, robotic process automation, artificial intelligence (AI) and other fast-growth areas generated strong demand for IT staffing firms.
