Executive search firm ZRG received $120 million in debt financing from Main Street Capital. The money will go toward boosting ZRG’s growth initiatives, including acquisitions.

“It is a great time to acquire niche talent advisory and management businesses and build out our capabilities across executive search, interim, RPO and consulting,” Larry Hartmann, CEO of ZRG, said in a press release. “This additional financing from Main Street Capital, combined with our recent equity raise with a consortium of investors, positions us strongly to achieve our strategic objectives.”

The announcement of debt financing follows a raise of growth capital in January 2023 by a consortium of new and existing investors led by Timber Bay Partners. The equity raise was managed by private equity firm RFE Investment Partners, ZRG’s primary financial sponsor.

“We are excited to partner with Main Street Capital, as this strategic debt refinancing will provide ZRG with greater financial flexibility and a strong balance sheet while serving as the catalyst to execute on the company’s long-term growth plan,” Ron Ahuja, principal of RFE, said in a press release.

Acquisitions by ZRG so far this year include the UK-based Ignata Finance Group and Cincinnati-based executive search firm Wiser Partners.