Cleveland-based PE firm The Riverside Co. has merged Shaker International, a provider of predictive talent intelligence and assessment solutions, with Montage, which offers a software hiring platform for companies.
The new company, which will be led by Montage’s Kurt Heikkinen as CEO and Shaker International’s Brian Stern as president, will work in the area of talent acquisition, embedding predictive intelligence into automated hiring workflows that enable better candidate experiences and “smarter” hiring decisions.
The remaining leadership team will comprise executives from both companies. All employees and the offices of the two companies are being retained. The combined company will be co-headquartered in Cleveland and Delafield, Wisconsin.
Shaker International received a growth investment in 2017 from Riverside, which also financed this merger and will continue supporting the combined business with access to additional resources to fuel growth, innovation, enhanced client support and market expansion.
Lightning Partners acted as exclusive financial and strategic adviser to Montage on the transaction.
"By joining teams, we're bringing together world-class expertise in SaaS, AI and predictive analytics to help clients transform talent acquisition operations to more effectively and efficiently meet the needs of their internal business stakeholders," said Stern in a statement.