Advanced Resources announced CEO Rich Diaz purchased the company through a management buyout. Diaz has led Advanced Resources — formerly part of the Advanced Group family of companies — as CEO and president for 14 years and brings more than 25 years of experience building and leading high-growth companies.

The transaction closed Jan. 29; terms were not disclosed.

Diaz is now the sole owner and will remain CEO of Advanced Resources. In addition, Dina Fiorelli, who has been with the company for more than 10 years and previously served as senior director, has been promoted to president.

Advanced Resources provides staffing and direct hire services primarily to the HR sector, with some accounting and finance placements. Diaz joined the group in 2009. In the past 10 years, he has led Advanced Resources to revenue of $80 million from $7 million, all organically. Headquartered in Chicago, the company has an internal, fully remote staff of 14 that places about 210 flex contractors in 23 states.

“When we first started discussing the sale of Advanced Resources, the top priority was making sure we kept in mind what would be best for our team,” Diaz said. “It’s an honor to be the new owner of Advanced Resources and have the opportunity to invest in our team’s future. Advanced Resources has an established brand in the marketplace, and I look forward to building on our already stellar reputation.”