Business Daily: Private equity executive search assignments drives TritonExec’s US growth
TritonExec, the London-based exec search firm, is experiencing its largest growth in the USA due to an increase in private equity assignments.
One of Britain’s fastest expanding executive search firms is experiencing exponential growth in its USA territory – largely due a rise in private equity sector assignments, driven by demand for digital executives.
TritonExec has built its private equity business in the USA to $1.5 million in Q1 of 2018 alone, with revenues across sectors up 60 percent, from its Atlanta, and recently opened New York office. Private equity becomes the fastest growth area of company to date.
The $12 million turnover business which is focused on digital and professional services and private equity, is also expanding its global headcount from the current team of 25 to 40 over the next year. In early 2018, TritonExec announced $20 million in new contracts lined up over the next 24 months, and are quickly gaining market share away from the ‘big 5’ long-established global executive search firms, historically dominating this market.
Founded in 2011 and headquartered in London, UK, TritonExec has managed to carve itself a niche in this competitive sector. The business embraces technology to predict and uncover subtle trends in compensation, diversity and talent shortages, as well as helping to determine which candidates are most likely to be successful in a certain organisations. The company holds a track record of impressively high retention rates of 96% within a 24-month period, from placements made to its multinational clients.
Despite being in business for less than a decade, TritonExec has been able to attract multi-million-dollar contracts from early on, and build an impressive client list which includes: Capgemini, Accenture, Deloitte, Icahn Enterprises, Gryphon Investors, and its very first client, Genpact (NYSE: G) – the global digital transformation business.
TritonExec US partner, Abe Doctor, commented: “Companies acquiring others through private equity deals are looking to strengthen their new investments with seasoned operators in their markets, so we expect this to be one of our busiest growth areas for a number of years to come. A decade ago, the trend was to buy and sell in a relatively short space of time, whereas we’re now seeing a drive to embrace digital, especially for more traditional industries, as a means of adding value for their eventual resale. This has been a boon to our digital officers practice which will grow to serve the ever-expanding pool of global companies embracing digital proficiency. ‘Digital acumen’ across these areas of investment for non-digital industries is increasingly important for CEO’s and executive chairmen of private equity portfolio businesses. “
TritonExec’s expanding USA operation, headed by Abe Doctor, is also due to announce a number of new senior appointments across 2018.
At the beginning of Q2 2018, OakNorth– the bank for entrepreneurs, by entrepreneurs – completed a debt finance deal to TritonExec, which will be invested in marketing, technology and infrastructure.