Concord Holdings Acquires Paramount Placement, a Leading Skilled-Trades Talent Solutions Platform
Concord Holdings Management LLC has announced the acquisition of Paramount Placement LLC, a skilled-trades talent solutions platform that focuses on filling high-demand roles across the United States. The acquisition was supported by Route 2 Capital Partners, which provided debt and equity investment for Paramount's future growth. Terms of the deal have not been disclosed.
Founded in 2017 by Steve Smith, Paramount specializes in recruiting and staffing for licensed skilled-trades positions such as HVAC technicians, electricians, plumbers, welders, auto and diesel mechanics, heavy equipment operators, and CNC machinists. Based in Swansea, Massachusetts, with an office in Brooklyn, New York, the company services over 450 customers across the contiguous United States, including Fortune 500 firms and startups. Paramount has facilitated more than 5,000 placements in the past decade, addressing the hiring challenges faced by employers in the blue-collar sector.
In the strategic partnership with Concord Holdings, Paramount's leadership team has retained significant equity in the business. Founder Steve Smith will continue to provide guidance in an advisory role, while Nicholas Sillaro, formerly Chief Operating Officer, will become President of the company.
Patrick Conroy, Managing Partner of Concord Holdings, stated that the firm aims to partner with founder-led businesses that demonstrate capital-efficient growth and untapped potential through technology and professionalization. He emphasized the opportunity created by labor shortages in the skilled trades sector and anticipated infrastructure developments in the upcoming decade.
Nick Sillaro expressed enthusiasm about the partnership with Concord Holdings, highlighting that it would enable Paramount to expand its recruiting platform while maintaining a focus on connecting skilled trades professionals with employers. He noted the goal of simplifying the hiring process for employers, allowing them to concentrate on their core business operations.