June 17, 2019

Trive Capital Completes Talent Acquisition Carve-Out from Kronos

Dallas, Texas, Raleigh, North Carolina and Portland, Oregon

Trive Capital (“Trive”), the Dallas-based private equity firm, is pleased to announce it has completed the acquisition of the hiring solutions business of Kronos Talent Management, LLC, a wholly owned subsidiary of Kronos Incorporated (“Kronos”), which has been re-branded Cadient Talent (“Cadient” or the “Company”).  Trive partnered with Six Pillars Partners, a Dallas-based independent sponsor, and Swordstone Partners, a Dallas- and Raleigh-based technology consulting firm, to execute the transaction.

Created in 2007 through the combination of two businesses, Unicru and Deploy, Cadient offers applicant tracking and assessment products, delivered via a software-as-a-service model, to customers throughout the United States and Canada.  Cadient provides one unified recruiting platform for salaried and hourly positions and is a leader in solving the complexities of high-volume, hourly hiring.  The solution provides distributed managers with a constant pipeline of high-quality candidates for their workforce.  Cadient has key partner relationships with multiple workforce onboarding service providers, including background checking, WOTC screening, and drug testing services, enabling the Company to offer a comprehensive applicant tracking and onboarding solution.

“We look forward to executing on our growth strategy for the business and delivering value to our customers and employees along with our partners at Six Pillars and Swordstone, both of whom have a long and successful history of investing in and operating SaaS and human capital management businesses,” commented Chris Zugaro, Partner at Trive. “We believe the Cadient platform is the best-in-class solution for distributed, continuous hiring and we are excited to build on that strong base over time.”

Jim Buchanan, CEO of Cadient stated, “We are excited to partner with Trive and join forces with the Cadient team, which has been a leader in the applicant tracking and assessments sector for over 30 years through its predecessor companies.  We share our enthusiasm for the brand’s potential with existing employees and look forward to enhancing Cadient’s product offering with our partners.  Our collective goal is to continue to provide our customers with the right solution to streamline the recruitment, hiring and onboarding of talent for their organizations.”

Shravan Thadani, Managing Director at Trive, added, “The Cadient transaction is the most recent example of our track record in carve-out situations where we are able to collaboratively partner with a management team and its employees to stand up a business.  We are excited to support the next phase of the Company’s growth through product investment and an acute focus on customer satisfaction.”

About Trive

Trive Capital is a Dallas, Texas based private equity firm with more than $7 billion of regulatory assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.

The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing in excess of $6 billion in revenue across Trive’s targeted industry sectors and situations.

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