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PrincetonOne acquired Des Moines, Iowa, executive search firm Vermillion Group, effective July 1. Vermillion Group serves the technology, financial services, managed care and healthcare sectors.
Terms were of the earn-out acquisition were not disclosed.
“The current owner of the business will earn the value of their business over a few years,” said PrincetonOne president and CEO Dave Campeas.
The Vermillion Group brand will transition to PrincetonOne over a period of time. “The Vermillion Group has really built up some great brand equity and we don’t want to lose that,” said Campeas.
Its owner is retiring, but Vermillion Group’s general manager will remain with PrincetonOne in the same position.
“They also do a lot of support industries to the federal government, mostly in defense,” said Campeas. “This is brand new to us and we are very excited about it.”
PrincetonOne is a staffing firm based in Skillman, N.J. It provides executive search, recruitment process outsourcing and contract staffing. Vermillion Group’s Des Moines office will become the company’s 14th office.