MILWAUKEE, Dec. 7, 2005 (PRIMEZONE) -- Baird Venture Partners (BVP), the U.S.-based venture capital affiliate of investment firm Robert W. Baird & Co. (Baird), has completed an investment in Milwaukee-based Pinstripe, Inc., a leading recruitment process outsourcing (RPO) services provider focused on talent acquisition and management solutions. BVP led the Company's Series A Preferred Stock financing with participation from The State of Wisconsin Investment Board and management. In connection with the investment, Bill Filip and James Pavlik of Baird Venture Partners will join the Company's board of directors.
The RPO market is one of the fastest-growing segments of the global business process outsourcing (BPO) industry. Pinstripe, known for its innovative approach to RPO, recently launched its proprietary Requisition-to-Results (R2R)(tm) platform, which integrates recruiting, hiring, onboarding, training and offboarding best practices into a complete, end-to-end outsourced approach to employee acquisition and retention. By partnering with Pinstripe, firms in such talent-driven industries as financial services, health care and technology are able to maximize the economic, operational, and strategic benefits of a high performing workforce, while minimizing compliance, security and other risks.
"This investment is an endorsement of our unique service approach and will help us continue to build Pinstripe into the leading provider of talent acquisition and management services," said Susan Marks, Chairman and CEO of Pinstripe. "We look forward to working with BVP and leveraging their deep experience and industry expertise as we continue to aggressively grow our business and expand into new markets."
"It's no secret that Sue Marks is among the top entrepreneurs in the region and has a proven record of success in the human capital sector," said Bill Filip, a Partner at BVP. "We're excited to partner with Sue and her team, and, in doing so, continue our longstanding support of the local economy."
Additional Background on Pinstripe Co-founders Susan Marks and Anne Nimke
Pinstripe was co-founded by Susan Marks and Anne Nimke, both 25-year industry veterans who previously established two successful HR staffing and HR outsourcing companies, ProStaff and HRfirst, which were sold to Kelly Services in 2000. Throughout their careers, Marks and Nimke have advised numerous companies on HR, outsourcing and technology issues. Named Ernst & Young Entrepreneur of the Year in the service business category, winner of the Marquette University College of Business Administration Entrepreneurial Award and a three-time Working Woman 500 honoree, Marks serves on both for profit and not for profit boards, including First Business Bank, Milwaukee, and is an active member of the prestigious Young Presidents' Organization. Marks has also been named an HRO Superstar for 2006 by HRO Today Magazine, the leading publication for HR outsourcing. A former president of the Human Resources Management Association, Nimke is a founding leader and Vice-Chair of the Recruitment Process Outsourcing Alliance and a member of the Human Resources Outsourcing Association. She is a frequent speaker at both financial services and HR industry conferences.
About Baird Private Equity
With more than 40 investment professionals in the United States and Europe, Baird's global private equity business has raised and managed $1.5 billion in capital. Baird Capital Partners provides change-of-control and growth capital to U.S.-based, middle-market companies in the Business Services and Manufactured Products sectors. Baird Venture Partners makes venture capital investments in early- to growth-stage companies in the Business Services and Software and Healthcare/Life Sciences sectors. Granville Baird Capital Partners is a long-established private equity manager targeting mid-market growth companies in the U.K. and Germany with a focus on the Business Services, Healthcare and Industrial Products sectors. Baird Private Equity also has an operating team located in three offices in China, focused on facilitating and executing Asia sourcing, manufacturing and distribution opportunities for portfolio companies. The group's investments are supported by Baird's full range of financial advice, operating expertise and industry research, providing a unique full-service approach to the entire private equity investment process. For more information, please visit www.bairdventurepartners.com.
About Baird
Baird, established in 1919, is an employee-owned international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Baird's principal operating subsidiaries are Robert W. Baird & Co. in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird's private equity operations.
Committed to being a great place to work, Baird is one of FORTUNE magazine's "100 Best Companies to Work For" in 2005 and was also included on the magazine's 2004 list. Robert W. Baird & Co. is a member of the New York Stock Exchange and other principal exchanges and the Securities Investor Protection Corporation (SIPC). Robert W. Baird Ltd., a member of the London Stock Exchange, and Granville Baird Capital Partners Ltd. are authorized and regulated in the United Kingdom by the Financial Services Authority. For more information, please visit Baird's Web site at www.rwbaird.com.