Caldwell posts 66% revenue gain

April 15, 2022 – Toronto-based Caldwell reported revenue of $39.8 million (CAD) in the second quarter, an increase of 66% from a year ago. Financial results include those of IQTalent Partners (IQTP). “This was another record quarter for Caldwell, delivering the strongest second quarter and first half in Caldwell’s history,” said John Wallace, CEO. “Consolidated revenue for the quarter was $39.8 million and $78.4 million for the year to date (an increase of 86% over the prior year). Both business segments posted strong year-on-year organic growth.

“Our Caldwell executive search segment generated $27.4 million in revenue in the second quarter, an increase of 38% over the second quarter of fiscal 2021,” Mr. Wallace said. “Our IQTP segment, which added $12.6 million in revenue in the second quarter, saw sustained and significant growth in demand for its flexible on-demand resourcing model and innovative use of AI technology. . Our consolidated operating income also reached all-time highs of over $5 million for the quarter, including acquisition-related costs of $0.7 million.

“These outstanding results demonstrate that our strategy is clearly resonating with customers and differentiating us in the marketplace,” Wallace said. “Our recent investment in Skyminyr is the latest example of our mission to implement creative and innovative techniques that enable our clients to leverage technology in the war for talent. By integrating Skyminyr’s AI-powered candidate sourcing capabilities into our sourcing process over time, we will further strengthen our ability to provide our clients with seamless talent acquisition solutions at every level. Going forward, we will continue to drive organic expansion and examine acquisition opportunities that align with our client-focused belief that talent transforms to further drive growth and shareholder value. »


Skyminyr Launches AI-Based Platform With Funding From Research Firms

Skyminyr, a human capital intelligence platform, has raised $2.5 million in seed funding to accelerate the continued development of its AI-powered platform. Investors in the round for Skyminyr include True Search, IQ Talent Partners and Caldwell Partners, as well as financier Karmel Capital. Skyminyr has built a human capital intelligence platform, which will combine the world’s top talent, across all industries, with its new technology to help companies recruit, manage and optimize the retention of their human capital. The funding will be used to accelerate the development and deployment of its platform, which combines talent acquisition, talent retention and relationship intelligence. Skyminyr said that with a “new world of hybrid and remote work providing a significantly changed context for employers, companies face poor visibility into how to recruit, retain and optimize the employee experience. for the best performers on the market”.


New partnership

During the quarter, Caldwell forged an international alliance partnership with Johnson Partners, an advisory firm working in board search, executive search and executive succession with offices across Australia. As part of the alliance, Johnson Partners acquired the New Zealand licensee business not owned by Caldwell and integrated Caldwell’s Australian team. Johnson Partners will become Caldwell’s external research partner for Australia and New Zealand, and Caldwell will become Johnson Partners’ external research partner for North America and the United Kingdom

“Johnson Partners is one of the region’s most successful and influential executive search firms, widely recognized for its long-standing, collaborative partnerships with clients,” said Chris Beck, president of Caldwell. “This reciprocal alliance is beneficial in several respects. First, it will enable us to jointly conduct transformative research across the globe at the highest management and operational levels, with a keen eye on delivering exceptional results for our clients. Second, we believe this significant expansion with the Johnson Partners team will generate greater global revenue opportunities for Caldwell, thereby creating value for our shareholders.

new addition

Caldwell recently expanded its private equity and technology recruiting capabilities with the addition of Gordon Berridge as a partner in private equity, venture capital and technology practices and based in the London office of the society. Mr. Berridge joins Caldwell from N2Growth in London where, as a senior partner, he played a key role in developing the firm’s European business.

“With 12 years of experience in successful executive search assignments for technology and software-focused executives in the UK, Europe and North America, Gordon is an incredible addition to the Caldwell team” , said Jim Bethmann, Caldwell’s chief technology officer. practice. “He provides bespoke talent solutions to clients in the area of ​​growth and private equity, focusing on the hiring of investors, operational executives, portfolio executives and board advisors. in the technology and software sectors. His reputation for unparalleled dedication to his clients precedes him and will expand the scope of our practice and our ability to support our clients’ growth ambitions.

Recent acquisition

Caldwell recently acquired Applied Behavioral Academy (ABA), a behavioral and cognitive psychometrics consultancy that leverages highly respected, results-driven tools to assess talent and align people and business strategies. Financial terms of the deal were not disclosed. Coinciding with the acquisition, Caldwell expanded its alliance with The Predictive Index (PI), launching Caldwell Analytics as a Certified PI Master Training Center, offering programs and workshops to train customers and other Certified PI Partners and their clients on all aspects of IP that initiate immediate transformation of their organizations.

“As Caldwell continues its transformational growth trajectory, the integration of the Applied Behavioral Academy team represents another significant milestone for us,” said John Wallace, CEO of Caldwell. “Our goal and priority is to connect our clients with transformational talent, drive long-term improvement in their business, and increase value for our shareholders. The additional leadership and enterprise-level capabilities that ABA brings to Caldwell will help our clients apply the same data-driven analytical rigor in their approach to talent acquisition and performance as they do in their decisions. financial and operational.

Related: Caldwell will trade on the best OTCQX market

Contributed by Scott A. Scanlon, Editor; Dale M. Zupsansky, editor; and Stephen Sawicki, Editor – Hunt Scanlon Media

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