TekPartners, a P2P Company, and Genuent Announce Merger to Become INSPYR Solutions, a Leading Professional Staffing and Solutions Provider
Boca Raton, Florida and Houston, Texas (July 8, 2022) – TekPartners, a subsidiary of P2P Staffing Corporation (“P2P”), and Genuent Holdings, LLC (“Genuent”) announced today that the companies have merged to become INSPYR Solutions (“Company”). TekPartners and Genuent are each proven leaders in the technology staffing and solutions industry. The combination will allow INSPYR Solutions to better serve its customers through an increased breadth of service offerings, access to a broader talent pool and expanded geographic coverage.
INSPYR Solutions will operate in a manner that honors the legacy TekPartners and Genuent brands, built over many years of steadfast client service. The Company will continue to uphold its reputation for attracting and retaining top talent through a world-class culture, as well as providing a superior experience to both its clients and candidates.
The INSPYR Solutions platform is now one of the largest pure-play providers in the information technology staffing industry, placing thousands of highly specialized consultants across the United States. Going forward, INSPYR Solutions will provide its technology staffing services and professional services solutions through a combined 11 branch locations across six states. The Company serves customers across a variety of end markets, including technology, transportation, consumer, healthcare, financial services and energy.
Coinciding with the merger, Genuent received a majority investment from A&M Capital Partners (“AMCP”), which acquired the business from Achieve Partners. AMCP previously acquired a majority interest in P2P from its founders in December 2021.
Jay Bevilacqua, formerly the CEO of TekPartners, will serve as CEO of INSPYR Solutions. Mr. Bevilacqua commented, “Merging TekPartners and Genuent is an exciting and logical next step in the evolution of our brands for a number of reasons. As INSPYR Solutions, we will be able to unlock tremendous synergy to better serve our clients and consultants. With a strong nationwide footprint and an infusion of capital from A&M Capital Partners, INSPYR Solutions has the resources and reach to make an enormous impact on the industry. Our new name reflects our team’s drive to become a force of inspiration and leadership in the staffing and professional services arenas.”
Kip Wright, formerly the CEO of Genuent, will serve as Executive Chairman of the Board of INSPYR Solutions. Mr. Wright commented, “We are extremely excited to join forces with the TekPartners team and create a new powerhouse in IT staffing and related solutions. These two companies exhibit a remarkable alignment from a cultural and values perspective, as well as enormous synergy in our approach to client and consultant service that will serve us well as a combined force.”
“We are thrilled to bring together two industry-leading players in TekPartners and Genuent. INSPYR Solutions represents an attractive platform in the technology staffing and solutions market,” said Michael Odrich, Managing Partner & Founder of AMCP.
“We are extremely excited to partner with the experienced leadership team at INSPYR Solutions as they begin a new chapter in the Company’s history,” added Alex Nivelle, a Partner of AMCP. “We see significant opportunity to continue to expand the platform across additional geographies, new end markets, and evolving skill sets. Both businesses’ proven results and track records of success position INSPYR Solutions to continue to grow organically and through accretive acquisitions.”
For more information, please visit www.inspyrsolutions.com.
About TekPartners, a P2P Company
TekPartners has been a trusted and proven technology solutions firm since its founding in 2002. As an information technology partner, it offers its clients proven talent through IT Staffing, Professional Services, and Infrastructure Solutions divisions. TekPartners understands and values the unique needs of the industry and always strives to stay above the curve. The company was founded on the following core values: Be the Best, Understand the Urgency, Never Ever Give Up, Have the Courage to Excel, and Make a Contribution. The Company takes pride in its business model and strives to create a positive workplace environment through an exemplary culture. TekPartners is headquartered in Boca Raton, FL.
Genuent is a leading technology staffing firm that delivers highly-skilled information technology professionals and workforce solutions to help its clients solve complex technology and business challenges. Through strong, long-lasting relationships with both its consultants and clients, Genuent is an element of change in the world of work. Genuent services clients nationally across the entire technology spectrum, connecting top technology talent with clients to provide responsive, collaborative support. Genuent was founded in 2006 and is headquartered in Houston, Texas.
About A&M Capital Partners
A&M Capital Partners is Alvarez & Marsal Capital’s flagship investment strategy focused on middle-market control transactions in North America with total assets under management of $2.9 billion. A&M Capital Partners has a strong and referenceable track record of serving as a trusted partner to founders, corporates and management teams, providing the capital and strategic assistance required to take businesses to the next level of success. A&M Capital Partners invests in businesses across a wide range of sectors including Business Services, Industrials, Manufacturing, Food & Beverage, Healthcare, Consumer & Retail, Government Services, Financial Services and Energy Services.
About Alvarez & Marsal Capital
Alvarez & Marsal Capital is a multi-strategy private equity investment firm with over $4.2 billion in assets under management across six funds and four investment strategies. The firm is led by a highly experienced investment team, which is augmented by a strategic association with Alvarez & Marsal (“A&M”), one of the largest operationally-focused advisory firms in the world. Alvarez & Marsal Capital combines a focus on middle-market private equity investing, with deep operational expertise, industry knowledge and global corporate relationships, making Alvarez & Marsal Capital an attractive partner to management teams and business owners. Alvarez & Marsal Capital is headquartered in Greenwich, CT with offices in Los Angeles, CA and London, England. For more information, visit www.a-mcapital.com.
Sr. Director of Strategic Marketing, INSPYR Solutions
Director of Business Development, A&M Capital Partners