ScaleCo Management, LLC, a Cleveland-based private investment firm, has made an investment in, and partnership with, employee assessment company PSP Metrics, Inc. PSP also provides talent and organizational development as well as succession planning. This is the ScaleCo team's 20th platform investment from our thesis of engaging ambitious entrepreneurs to provide value to small companies. ScaleCo has developed an investment thesis to invest further in the human capital management industry, with plans to grow PSP organically and add on other companies.
Operating for more than 70 years, PSP has been a pioneer in the employee assessment industry. Dr. Gary Williamson, who has been a co-owner of the company since 2001, will become Chief Executive Officer and remains a significant investor. Dr. Steve Guinn, who has been a co-owner of the company since 2001, will stay with the company and assist with the transition. We are pleased to announce that Donald (Donnie) L. Bedney III will be joining PSP as President. Donnie has been in the assessment and human capital management industry for more than 15 years.
"When I was first introduced to PSP in September, I immediately thought of Donnie," said ScaleCo founder, Brendan Anderson. "PSP Metrics is a perfect match for his relationship-building mindset and years of people resource management experience."
PSP aligns well with ScaleCo's strategy of investing in profitable, scalable business services companies. Working together, ScaleCo, Dr. Williamson, Mr. Bedney, and the PSP team will grow and transform PSP into even more of an industry leader.