25 May Riveria Investment Takes Stake in JBCHoldings
Riveria’s investment will position JBC’s recruitment services segment to capitalize on the growing demand from its existing customer base and also to extend the company’s services into new verticals and underserved markets. Further, the investment will provide JBC with the resources to accelerate the growth of its automated payroll software platform. Riveria will be actively working with and assisting JBC in developing and executing a growth strategy, identifying strategic acquisitions and funding future growth opportunities. In addition, Riveria will join the Board of Directors and provide strategic oversight through its network of executive operating partners within the industry.
“We are delighted to partner with the Riveria Investment Group team,” said Bryan Zaslow, Founder and Chief Executive Officer of JBCHoldings. “Riveria’s active approach was particularly attractive to us as we sought the best investor to help us develop and execute our growth strategies and achieve our goal of becoming the leading recruitment agency to the segments in which we focus.”
TJ Gupta, Managing Partner at Riveria, added, “JBC is a vibrant, young company that has grown exceptionally under CEO Bryan Zaslow’s leadership. We are excited about this new partnership and look forward to participating in JBC’s future growth.”
The transaction represents Riveria’s second investment, and a major milestone for the private equity firm founded in 2010.
Founded in 2002, JBCHoldings acts as the parent organization to JBCStyle and JBCConnect, a collaborative group of recruitment and staffing solutions agencies which provide temporary and permanent employee and management solutions to the retail, creative services and fashion industries. JBCHoldings also operates Jonathan Beth Consultants, a provider of automated payroll software solutions. The company has consistently been featured in the “Inc. 5000 List of America’s Fastest Growing Companies” in 2008, 2009 and 2010 (latest publication). JBC’s clients have included top brands such as Polo Ralph Lauren, Ann Taylor, American Eagle Outfitters, Aeropostale, Oakley, Skull Candy, and many more. The company is headquartered in New York, NY, with additional offices in Los Angeles, CA, Orange Country, CA and San Francisco, CA. For more information, please visit JBC’s main websites at http://www.jbcstyle.com, http://www.jbcconnect.com or http://www.jbeth.com