CorSource, an IT staffing firm headquartered in Portland, Ore., announced its president, Andrew Hermann, is leading a new ownership group that acquired majority interest. Hermann has served as president since 2014 and is the only executive team member involved in the buyout.

The firm was purchased from an ownership group led by investor Richard Pierce. The transaction closed Nov. 1; terms were not announced. CorSource’s executive team will stay in place but the company will add new, outside board members.

The company was founded in 1994 as ProDx and operates on the West Coast.

Hermann joined CorSource in 2012 as chief marketing officer.

“I am excited for this opportunity to take CorSource to its next chapter of success, and for the wonderful ownership group that supported me as president and now as an owner of the company,” Hermann said. “With the introduction of our new Staffing Lifecycle Management industry approach, CorSource will continue its customer and industry leadership as technology-enabled firms look for new ways to manage changing talent requirements and workforce dynamics.”