NEW YORK, January 16, 2024 – MidOcean Partners, a premier middle market private equity firm focused on the business services and consumer sectors, has made a strategic investment in Conexus Recruiting (“Conexus” or "the Company”). The Company was previously backed by an investment from McNally Capital. MidOcean Partners plans to continue the Company’s aggressive growth plan through comprehensive organic initiatives and strategic acquisitions. Financial terms of the transaction were not disclosed.
Conexus has quickly become one of the largest consulting and recruiting firms in Southern California. The Company provides Interim Consulting, Advisory, Direct Hire, and Executive Search solutions in the disciplines of Finance & Accounting, Technology, and Human Resources, and has grown exponentially in the past three years. In 2023, the company completed more than 250 direct hire and executive-level searches, deployed consultants on more than 400 interim assignments and advisory projects, and ended the year with nearly 200 consultants actively working at Conexus’ clients. In late 2023, Conexus acquired Logis CFO, a competitor providing Executive Search, Direct Hire, and Interim Consulting solutions for the Office of the CFO for clients in Southern California and other select markets nationally.
“2023 was a very exciting year for our company. We were able to significantly expand our presence in the finance and accounting area through the addition of Logis, all while completing a recapitalization with MidOcean,” said Partner and Co-Founder Mike Kelly. “My partners have built exceptional businesses that provide best-in-class solutions. We are positioned to capitalize on many new opportunities, including a continued focus around the Office of the CFO.”
MidOcean Partners is a longtime investor in human capital businesses with Conexus representing MidOcean’s fifth investment in the space. Within the human capital sector, MidOcean focuses on end markets with clear secular growth trends, and Conexus falls squarely within this thesis.
Elias Dokas, Managing Director at MidOcean, commented, “We are very excited to invest behind Conexus, who are proven leaders in servicing the Office of the CFO. Conexus has built an impressive business that has experienced strong growth due to delivering superior service to its customers. We look forward to working closely with the Conexus leadership team to capitalize on these opportunities and to thoughtfully expand the Company.”
About MidOcean Partners
MidOcean Partners is a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has targeted investments in high-quality middle-market companies in the consumer and business services sectors. MidOcean Credit was launched in 2009 and manages a series of alternative credit strategies, collateralized loan obligations (CLOs) and customized separately managed accounts.
For more information, visit https://www.midoceanpartners.com/