Although financial terms of the deal were not disclosed, BVP partner Jim Pavlik said the exit will provide an “attractive” return to BVP investors.
Based in Brookfield, Wisconsin, Pinstripe was an early entrant in the RPO space and has emerged as one of the leading providers in the industry.
The business serves organisations in financial services, healthcare, technology and advanced manufacturing.
BVP led Pinstripe’s Series A financing round in 2005 and supported the company with additional investments in 2006 and 2007.
In addition to the investments received from BVP, Pinstripe’s growth to date has been supported by investments from institutional investors CID Capital and The State of Wisconsin Investment Board.
Baird Private Equity has a history of investment experience in the human capital services sector, having invested in 13 US and European human capital companies.
Current venture investments in the sector include Montage Talent, a provider of video interviewing software; Snagajob, the largest online community of hourly workers; and StartWire, a web-based job search company that provides job seekers with application status updates from potential employers.
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