ATLANTA–(BUSINESS WIRE)–Caymus Equity Partners LLC (“Caymus Equity”) has acquired Seneca Resources, LLC (“Seneca” or the “Company”), a rapidly growing IT staffing company based in Reston, VA, with additional offices in Richmond, VA, Atlanta, GA, Birmingham, AL, and Dallas, TX. The acquisition represents Caymus Equity’s third staffing investment and the second investment out of Caymus Equity Partners Fund II.
Founded in 2010, and led by Rob Persiano, the Company services a nationwide customer base and focuses on the delivery of difficult to find, top-tier technology talent capable of addressing complex IT and engineering workforce needs. Seneca’s deep bench of high-end IT consultants has resulted in tenured relationships with numerous notable clients spanning industries including Government, Healthcare, and Financial Services. Caymus Equity’s investment provides Seneca with the capital support necessary to continue expansion with existing clients, penetrate new industry verticals and geographies, and pursue strategic acquisitions.
“Seneca’s clients have specialized IT needs requiring certain skill sets many businesses find difficult to recruit internally and other, less specialized staffing firms struggle to provide. Our success at Seneca is the result of a differentiated talent pool developed over the past decade, highly responsive delivery model, and long-term relationships with both our consultants and clients,” commented Mr. Persiano. “Caymus Equity’s historical successes in the staffing space and a shared vision for the future growth plan for Seneca strongly resonated with the entire management team.”
“With the digitization of the global economy and the remarkable growth that the IT staffing industry has experienced as a result, Seneca presented us with an opportunity to leverage our experience and existing relationships in the industry,” commented Blake Cummings, Principal and investment-lead at Caymus Equity. “We could not be more excited to partner with Rob and the Seneca team to continue building the business into the premier IT staffing company in the industry.”
“This transaction continues to deepen our staffing expertise at Caymus Equity, and also furthers the investment momentum we have in our first committed fund, Caymus Equity Partners Fund II,” commented Geoff Faux, Managing Partner. “We are excited to support Rob and his team and look forward to growing the business together.”
Caymus Equity’s staffing experience includes a prior investment in Hospitality Staffing Solutions, the nation’s largest provider of full-time staffing services to hotels, resorts and casinos, and a current investment in PlanIT Group, a technology consulting firm providing IT consulting and staffing services to a global client base.
The investment in Seneca on September 21, 2022 marks Caymus Equity’s fourteenth platform investment, and second investment out of Caymus Equity Partners Fund II.
To read more about Seneca resources, visit http://www.senecahq.com/
To learn more about Caymus Equity, visit https://www.caymusequity.com/
Caymus Equity Partners
Founded in 2001 and with offices in Atlanta and New York, Caymus Equity Partners is a leading private equity firm focused on control transactions in the lower middle market. We invest in profitable companies with significant upside potential where the owners and management teams are seeking a value-added partner to help fuel growth. Our partnerships center around mutual culture, business values, and goals as the foundation for driving sustainable growth and value for all stakeholders. We strive to work with management to develop and refine strategy and provide support while leaving day-to-day execution to the operators of the business.
Caymus Equity Partners’ other holdings include PureRED, a provider of a unique combination of marketing services that increase sales and customer engagement for world class retail, consumer packaged goods and business-to-business enterprises; Excel Physical Therapy, a premier provider of sports and orthopedic physical therapy and rehabilitation services in northern New Jersey; TriplePoint, a full-service mechanical contractor with operations across six states in the Midwest; Pan-Am Dental, a full-service manufacturer and distributor of high quality custom dental products; PlanIT Group, a provider of a full suite of IT consulting and staffing solutions to the government and commercial sectors; Colorado Barricade, a provider of roadway safety, pavement marking, traffic control, and sign installation solutions for commercial customers, utility contractors and roadway infrastructure maintenance providers in the Rocky Mountain region; and Overland Vehicle Systems, a leading branded supplier of outdoor and automotive aftermarket parts and accessories for Overlanding and off-roading enthusiasts.