IT Staffing Report: Oct. 6, 2022

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Private equity firm acquires IT staffing provider Seneca Resources

Private equity firm Caymus Equity Partners LLC acquired Seneca Resources LLC, an IT staffing firm based in Reston, Virginia.

The acquisition, which closed Sept. 21, will allow Seneca to continue expanding with existing clients, penetrate new industry verticals and geographies and pursue strategic acquisitions.

“With the digitization of the global economy and the remarkable growth that the IT staffing industry has experienced as a result, Seneca presented us with an opportunity to leverage our experience and existing relationships in the industry,” said Blake Cummings, principal and investment lead at Caymus Equity.

The private equity firm has made other deals in the staffing space, including taking part in a recapitalization of PlanIT Group LLC, an Atlanta-based IT staffing firm, in September 2020. Caymus was also an investor in Hospitality Staffing Solutions, which it exited in January 2020 when HSS was sold to Kellermeyer Bergensons Services LLC.

Founded in 2010, Seneca Resources is led by Rob Persiano.

In addition to its headquarters in Reston, Seneca Resources has offices in Richmond, Virginia; Atlanta; Birmingham, Alabama; and Dallas.

“Our success at Seneca is the result of a differentiated talent pool developed over the past decade, highly responsive delivery model, and long-term relationships with both our consultants and clients,” Persiano said. “Caymus Equity’s historical successes in the staffing space and a shared vision for the future growth plan for Seneca strongly resonated with the entire management team.”