With 89% of HR leaders prioritizing HR tech in their budget for the third year in a row, this acquisition is poised to propel Cadient's expansion in the market with innovative and efficient solutions.
NEW YORK, NY / ACCESSWIRE / April 10, 2024 / Cadient, a leading provider of talent acquisition solutions in the hourly hiring sector, has been acquired by Basis Vectors Capital, a private equity and technology investment firm that focuses on creating long-term value for market leaders in the B2B SaaS space. This move will empower Cadient's expansion plans, both through organic growth and strategic partnerships.
The terms of the transaction were not disclosed. Cadient's CEO, Jon Puckett will continue to run the day-to-day operations of the business.
With over 20 years of experience in the recruitment industry, Cadient has processed over 670 million candidates and facilitated over 7 million hires, significantly reducing turnover and increasing productivity for the world's largest hourly hiring businesses. The company's services focus on high-volume precision hiring with specialties in diverse and high-retention talent. Cadient's solutions have delivered outstanding results in the healthcare, hospitality, and retail industries, with the company seeking to expand its services to many more sectors.
"At Cadient, we're thrilled to embark on this new chapter with a partner who shares our vision for transforming talent acquisition," said Cadient CEO Jon Puckett. He added, "By joining forces with Basis Vectors Capital, we're gaining access to their invaluable expertise in empowering and scaling SaaS businesses. This collaboration will fuel our ability to deliver exceptional value to our customers and achieve our ambitious market expansion goals. We'll leverage this partnership to propel Cadient's innovation and shape the future of hiring excellence."
"We're excited to partner with Cadient's management team to build upon their impressive achievements and drive even more growth," said Basis Vectors Capital CEO, Ambarish Gupta. He further added, "This acquisition is a testament to our belief in Cadient's potential to transform the hiring landscape, especially with their longstanding success, and considering the significant demand currently rising for efficient and effective hiring solutions".
About Cadient
Founded in 2002, Cadient (formerly Unicru) is a leading provider of talent acquisition solutions, specializing in the complexities of hourly hiring. Their solutions are designed to simplify the hiring process, enabling businesses to hire quality hourly candidates with confidence. Cadient's platform is supported by a dedicated team of experts, ensuring their clients receive robust software and unparalleled service.
About Basis Vectors Capital
Basis Vectors Capital is a New York-based private equity fund acquiring B2B SaaS companies to enhance their financial efficiency. Recognized as a top 50 Lower Middle Market Technology Investor & M&A Advisor by Axial in 2024, it employs a proprietary SaaS machine platform for sales, marketing, engineering, and finance operations. Headquartered in New York, Basis Vectors Capital also operates in Silicon Valley, India, and Ukraine.
Contact Information
Valentina Zabala
Account Manager
[email protected]
SOURCE: Basis Vectors Capital
View the original press release on newswire.com.