Stone-Goff Partners announced today it has sold NAS Recruitment Innovation ("NAS") to M3 USA, a leader in healthcare digital solutions for hospitals, health systems, and physicians.
NAS is a leader in recruitment advertising, marketing, and digital services, offering a proprietary technology platform, ACTIVATE™, which enhances candidate engagement, maximizes SEO, and offers robust analytics for clients. In 2019, the ACTIVATE platform provided a superior experience to more than 25 million candidates in their job searches. NAS also provides Media Services including employment branding, programmatic buying, social outreach, and digital marketing. The Company is based in Cleveland, Ohio, and serves hundreds of clients throughout the U.S. and Canada across a variety of industries, including healthcare and hospitality.
In December 2011, Stone-Goff Partners acquired NAS from Interpublic Group (IPG). Under Stone-Goff’s ownership, led by CEO Phil Ridolfi and Chief Talent Strategist Matt Adam, NAS has shifted from a traditional media services model to an end-to-end digital offering with the development of the ACTIVATE platform. NAS empowers clients to attract and engage quality talent with proven expertise in technology solutions, media buying, and creative services.
"Working with Phil, Matt, and the NAS team as we transformed the company from a legacy business model to a hybrid services, strategy, and SAAS-based business model has been an incredible journey. This transaction is a result of the team’s hard work, vision, and leadership in the recruitment marketing space," said Hannah Stone Craven, co-founder of Stone-Goff Partners. "We are excited about the strategic fit between NAS and M3, and believe the combined company will continue to lead in innovation and performance in the recruitment marketing space."
M3 Inc., the parent company of M3 USA, operates in the U.S., Asia, and Europe, providing services to healthcare and the life science industries, including market research, medical education, ethical drug promotion, clinical research, job recruitment, and clinic appointment services.
Leonis Partners acted as the exclusive financial advisor to NAS in this transaction. Fredrikson and Byron P.A. served as legal counsel to NAS.
About Stone-Goff Partners
Stone-Goff Partners is a private equity firm that invests in lower middle-market founder-owned businesses and corporate carve-outs in the following verticals: Human Capital & Training, B2B Services and Consumer Services. Founded in 2010 by Hannah Stone Craven and Laurens Goff, the firm leverages the extensive investment, operational, and strategic experience of its principals and its Talent Network members to serve as a value-added partner for management teams, portfolio companies, and limited partners.