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Private equity firm invests in MBO Partners

May 24, 2017

MBO Partners, a provider of independent contractor engagement solutions, announced private equity firm Primus Capital made a minority investment in the firm. The amount of the growth investment was not disclosed. Primus’ investment amount criteria ranges from $15 million to $70 million; it is larger with a limited partner co-investment.

This is MBO Partners’ first capital raise since its inception in 1996. The employee and management team remain the majority owners. Primus Managing Director Jon Dick and Director Aaron Davis will join MBO Partners’ board as directors.

“The investment from Primus and the expertise they bring to our team will enable us to deliver more customer solutions, accelerate technology enhancements, and gain a larger industry footprint,” said MBO Partners CEO Gene Zaino.

“We are impressed by the strong management team leading the organization and clear thought leadership in the independent labor market,” said Aaron Davis, director at Primus. “MBO is a great addition to our portfolio and will benefit from our long history in human capital management and working with leading growth companies to realize their potential.”

MBO provides contractor management services including a freelancer management system. It also provides back-office services for independent consultants.

Primus Capital, based in Cleveland and Atlanta, invests in healthcare, software and technology-enabled services companies.

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