Executive search provider Elliot Group Enterprises LLC and Steve Lockton entered into a strategic partnership. Under the terms of the agreement, which closed in May, Lockton made an undisclosed equity investment.

Lockton is executive VP and owner at the Lockton Companies, a privately held insurance broker and risk management consulting firm. The Lockton family office made the investment and is now a minority partner in Elliot, according to Elliot Group founder and CEO Alice Elliot.

“They made a substantial investment, and it is growth capital that will continue the great trajectory of the Elliot Group,” Elliot said. “What it allows us to do is not only maintain our status as the most well-respected executive search firm in the hospitality space, it also is a vehicle to allow us to continue growing in the retail and service sectors and in a whole multitude of verticals.”

Elliot provides a range of services to the hospitality, food service, manufacturing, retail and service sector industries through its three subdivisions: Elliot Associates LLC, a retained executive search firm; Elliot Executive Consulting LLC, a strategic and operational consulting firm; and Elliot Productions LLC, a creative management firm specializing in events and content development.

The firm, which operates worldwide, is headquartered in New York with additional offices in California, Georgia, Texas and New Hampshire.

As part of the partnership, Lockton gains access to Elliot’s network within target sectors where Lockton sees potential for their global risk management, insurance and employee benefits consulting services.