For Immediate Release
For additional information, contact:
Angela Pittman, Public Relations Coordinator
Robert W. Baird & Co., Incorporated
414-298-1902
apittman@rwbaird.com
For Pinstripe:
Joanne Lessner
Miller DeMartine Group
203-221-2790
jlessner@mdgpr.com
MILWAUKEE, December 7, 2005 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”) 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.
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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 &
Software and Healthcare/Life Sciences sectors. Granville Baird Capital
Partners is a long-established private equity manager targeting mid-market
growth companies in the UK 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.
