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Acquisitions: Deel, Kingsley Gate Partners, Professional Diversity Network

January 12, 2023

Employer-of-record provider Deel buys fintech firm. Kingsley Gate Partners buys London-based search firm. Professional Diversity Network Inc. (NASDAQ; IPSN) acquired career fair organizer Expo Experts Events LLC.

Deel

Deel, a San Francisco-based global employer of record provider, acquired Capbase, a fintech firm also based in San Francisco.

Capbase’s technology and compliance services help startups incorporate in the US, set up bank accounts and boards, manage cap tables and grant equity.

“Capbase has a unique approach in that they help companies develop throughout their ‘lifecycle’ — from incorporating, to fundraising, to setting up employment contracts, to compliance filings, all the way through to granting equity,” according to a blog post on Deel. “It’s why we think they’re a great fit for Deel. Plus, they’ll help us do more in the US to support startups and help companies go global.”

TechCrunch reported Deel was founded in 2018 by Greg Miaskiewicz and Stefan Nagey and raised a total of approximately $6 million in venture capital.

Kingsley Gate Partners

Kingsley Gate Partners, an executive search firm based in New York City, acquired The Omerta Group, a London-headquartered executive search firm focused on financial services.

The move will expand Kingsley Gate Partners’ footprint across the UK, continental Europe, the Middle East and Asia/Pacific. And the acquisition will bring 50 global financial services specialists to Kingsley Gate Partners’ team, building on its existing financial services expertise, particularly in asset management.

Founded in 2002, The Omerta Group will retain its brand as a Kingsley Gate Partners company.

“To have a truly global financial services practice, you must be in three locations: New York, London and Hong Kong. This acquisition strengthens our position in these key markets,” Kingsley Gate Partners CEO Umesh Ramakrishnan said.

The Omerta Group founder and CEO Jason Mort will lead Kingsley Gate’s global financial services practice and has been appointed to the firm’s global leadership team.

Kingsley Gate Partners, founded in 2015, is backed by private equity firm Crescent Cove Partners LP and operates in more than 30 countries.

Professional Diversity Network

Professional Diversity Network Inc. (NASDAQ; IPSN), a Chicago-based developer and operator of online and in-person diversity talent networks, acquired Expo Experts Events LLC, a career fair company based in Cincinnati.

Professional Diversity Network purchased the assets and operations of Expo Experts for total consideration of $600,000 to be funded by the payment of $400,000 in cash and issuance of restricted shares of PDN common stock valued at $200,000.

“We believe this strategic investment will increase our event revenues significantly and add up incremental revenues as a result of cross-platform sales,” said Adam He, CEO of Professional Diversity Network.

Expo Experts has hosted job fairs specializing in STEM-based employers for more 20 years.