Funds managed by Stone Point Capital LLC, a private equity firm based in Greenwich, Conn., acquired Eliassen Group. The IT and life sciences staffing firm was previously a portfolio company of Riverside Partners. 

The transaction closed today. Eliassen Group’s current executives will remain in their current roles.   

Eliassen Group last year combined with Principle Solutions Group, an IT staffing firm headquartered in Atlanta, and in January the combined business adopted the Eliassen Group brand throughout all of its regions.

“Eliassen Group, with Stone Point as a partner, will leverage M&A in the IT staffing and consulting space as a growth driver for continued long-term success,” Sandra Callahan, head of marketing at Eliassen Group, told Staffing Industry Analysts.

Reading, Mass.-based Eliassen Group was founded in 1989 and now counts about 20 locations. The company ranks No. 14 on Staffing Industry Analysts’ 2018 list of largest IT staffing firms in the US.

Also included among Stone Point Capital’s other investments are professional employer organization Oasis Outsourcing and background screening provider HireRight.