Tandym Group Acquires AETEA Information Technology

NEW YORK, June 21, 2023 /PRNewswire/ -- Tandym Group ("Tandym"), a national consulting, recruitment, and workforce solutions company, announced today that it has acquired AETEA Information Technology ("AETEA"), a technology staffing company. Terms of the transaction were not disclosed. Tandym is backed by Mill Rock Capital, a growth and operations-oriented private investment firm that invests in well-positioned businesses in North America.

AETEA provides technology staffing and consulting services to clients ranging from emerging startups to Fortune 100 companies and supports a broad range of industries, including financial services, biotech, and consumer packaged goods. As a result of this partnership with Tandym, AETEA's clients will be able to access a broader range of services and expanded capabilities.

Dave Muller, President of Tandym, commented, "Tandym's strategic acquisition of AETEA not only enhances the range of services we can provide to clients and candidates, but also holds personal significance to me. Having started my career in this industry with the team at AETEA, I am thrilled about the opportunity to build upon their 35-year legacy."

Jeff Sardis, President of AETEA, said, "We look forward to joining Tandym, as this partnership allows us to uphold our commitment to providing deeply personalized service to all of our clients and contractors. I've had the pleasure of knowing several of Tandym's leaders throughout our time as peers in the industry and I'm confident they are aligned with our focus on quality and will continue to add value for our current clients."

Charles Heskett, CEO and Executive Chairman of Tandym, added, "AETEA brings an impressive roster of companies to our client base. We're excited to introduce them to an enhanced mix of service offerings, and this truly represents an example of the sum being greater than its parts. Chris Moulton, Tandym's VP of Corporate Development, did a fantastic job guiding AETEA into the Tandym family and we enthusiastically welcome them."

Akin Gump Strauss Hauer & Feld LLP served as legal advisor to Tandym.

About Tandym Group

Tandym is a leading consulting, recruitment, and workforce solutions company with offices throughout the U.S. Named one of Inc. Magazine's fastest growing companies, the company serves clients across a broad range of verticals, including Healthcare, Technology, Life Sciences, and Professional Services (which includes Accounting, Financial Services, HR/People & Operations, and Legal). For more information, please visit: tandymgroup.com.

About AETEA

AETEA is a full spectrum IT staffing and consulting organization with experience across numerous industries, supporting clients ranging from emerging startups to Fortune 100 companies for over 35 years. Specialized in staffing for application development and infrastructure related roles, they offer short to long-term staff augmentation, contract-to-hire, and direct hire staffing services.

About Mill Rock Capital

Great Mill Rock LLC dba Mill Rock Capital is a growth and operations oriented private investment firm that invests in well-positioned middle market businesses in North America. Founded by Christopher Whalen and Adi Pekmezovic, Mill Rock Capital is purpose-built to invest in family-owned businesses, owner-operators and founder-led companies across six industry verticals. Focus sectors include chemicals, materials and packaging; industrial distribution; services; metals and engineered materials; transportation and logistics; and specialty manufacturing and industrial technology. This strategy leverages the deep expertise of the firm's principals, a majority of whom have direct operating experience in these same industries. Mill Rock Capital supports business transformation through a dual-sourcing strategy encompassing majority equity and Activ Capital® – debt, senior equity or hybrid investments which provide business owners value-added financial partnership without relinquishing a controlling stake. For more information, please visit millrock-cap.com.

MEDIA CONTACTS:

Stephanie Klemperer, Tandym Group
212-871-0607
[email protected]

Joanne Lessner, Lambert
212-222-7436
[email protected]

SOURCE Tandym Group