FirstMeridian, an HR investment platform of private equity firm Samara Capital, Goldman Sachs and Janchor Partners, has acqui-hired a business unit of HR Cornucopia Pvt. Ltd.
HR Cornucopia’s existing business in the talent acquisition & staffing unit and the associated team will now become a part of V5 Global, a FirstMeridian portfolio company.
HR Cornucopia provides business services to pharmaceutical and healthcare firms in India.
The deal sum was not disclosed.
FirstMeridian's V5 Global is a retail manpower services company with over 20,000 associates offering staffing, semi-managed services, mobile apps for work force and trade marketing solutions in the name of Brand Pulse.
Since its inception in mid-2018, FirstMeridian has acquired three HR solution providers, namely, Innovsource, V5 Global and Affluent Global across various segments in the industry .
Founded by Ahmedali N in 2004, HR Cornucopia caters to niche HR consulting enabling businesses in the healthcare and pharma spaces to find the right talent.
Sudhakar Balakrishnan, Group CEO at FirstMeridian, said,”Today, the healthcare/pharma sector is critical amidst the COVID-19 crisis. This strategic acquisition enables FirstMeridian to fulfil the increasing need for a qualified healthcare workforce.''
Among the recent deals in the staffing space, Awign Enterprises Pvt. Ltd, which operates a work fulfilment solutions provider, has raised $4 million ( Rs 28.27 crore at current exchange rates) in its Series A funding round from a clutch of investors.