Levine Leichtman Capital Partners Portfolio Company Resolution Economics Acquires Berkshire Associates
Resolution Economics (“ResEcon”), a portfolio company of Levine Leichtman Capital Partners (“LLCP”), announced that it has acquired Berkshire Associates (“Berkshire” or the “Company”). Financial terms of the transaction were not disclosed.
“I am delighted that Berkshire is partnering with ResEcon as we look forward to our next stage of growth”
Headquartered in Columbia, Maryland, Berkshire is a leading provider of outsourced affirmative action plan (“AAP”) consulting and software services, compensation analysis and other human resource compliance-related services. Founded in 1983, Berkshire began as one of the first companies to establish an automated way to prepare AAPs, revolutionizing the AAP process for HR professionals nationwide. Over the years, Berkshire has expanded its scope of services beyond AAPs to meet the evolving needs of HR professionals with a range of services, training, and technology and software.
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Ali Saad, Managing Partner at ResEcon, said, “We are incredibly excited to partner with Berkshire, a true industry leader. There is strong alignment between Berkshire’s and ResEcon’s strategic objectives and vision for the future of our combined business.” Matthew Rich, Partner at LLCP, added, “We are very impressed with the Berkshire management team’s leadership and track record of success, and are thrilled by the opportunity to add EEO compliance and AAP services to ResEcon’s existing labor and employment consulting services.”
President Beth Ronnenburg will continue to lead Berkshire as part of ResEcon. Ms. Ronnenburg has been a part of the Berkshire team for over 25 years and has been instrumental in shaping Berkshire’s culture and growing the business into the market leader it is today.
“I am delighted that Berkshire is partnering with ResEcon as we look forward to our next stage of growth,” said Ms. Ronnenburg. “There is a great cultural fit between Berkshire and ResEcon, and we see valuable opportunities to learn from each other’s successes and to offer some very important and interesting new services to our clients. We are excited by LLCP’s strong track record of partnering with management teams to improve client engagement, expand service offerings and support overall growth.”
Victoria A. Lipnic, the leader of ResEcon’s Human Capital Strategies Group and formerly Commissioner and acting Chair of the U.S. Equal Employment Opportunity Commission, added, “I have known the leaders of Berkshire for many years, and look forward to working with them on a number of important service initiatives for our combined company. Berkshire has positioned itself to meet the increasing market demand for Industrial-Organizational Psychologists in human capital consulting. They are consummate professionals who provide the highest quality service to their clients.”
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