Gemspring Capital, a Westport-based private equity firm specializing in lower middle market companies, has acquired TMP Worldwide, a provider of recruitment marketing software and digital services.
According to Gemspring Capital, the management team at New York City-based TMP Worldwide “made a significant investment in the company” and partnered with them on the acquisition. Financial terms of the transaction were not disclosed.
Company officials confirmed that TMP Worldwide CEO Michelle Abbey will continue in her position.
“TMP Worldwide is an extremely attractive platform opportunity given its market leadership, differentiated technology, commitment to customers and the strength of its deep management team,” Thomas Zanios, managing director at Gemspring Capital, said. “The company’s integrated software and digital services provide a full service, high value-added solution to the largest and most sophisticated employers.