Brookfield-based Patina Solutions Group Inc. has raised $3.45 million to fund its planned expansion, the company announced today.
Patina, founded in 2008, provides companies with experienced executives for key projects and interim positions.
President and chief executive officer Mike Harris did not respond to several attempts by BizTimes during the last week to reach him to discuss the investment.
According to a press release from the company today, Patina plans to use the investment to add more offices to its network and double its sales force while continuing to increase revenue. The company currently has 14 national offices, including Brookfield, Madison and Green Bay. Patina did not provide details on its investment source, its current sales force numbers or how many offices it plans to open.
Patina has grown to its current size with individual angel investments. This is the largest investment in its history.
“Patina has grown dramatically, increasing revenue over 200 percent in the past three years,” Harris said in the statement. “With that demonstrated performance, Patina secured its place on Inc. magazine’s list of fastest-growing private companies for 2013, 2014 and 2015, and is expected to do so again in 2016. And we’re not done yet. Patina is going on another exciting growth journey, allowing us to support even more companies and organizations in achieving their goals.”
Harris previously founded and served as CEO of Milwaukee-based professional services firm Jefferson Wells International Inc. (originally known as AuditForce) in late 1995 and led its growth to $132 million in revenue, 23 offices and 1,600 employees in five years. It was acquired by ManpowerGroup in 2001.
Among the factors driving Patina’s current expansion are demand for executives in the health care, information technology and manufacturing sectors. Among the companies it works with locally are Glendale-based Johnson Controls Inc. and Sussex-based Quad Graphics Inc.
In order to execute its growth plan, Patina has expanded its leadership team to include a new employee, Tom McBride, executive vice president and chief operating officer.
McBride previously was president of several business units at Brookfield-based banking software developer Fiserv Inc. He also oversaw global sales and marketing at Jefferson Wells for six years. At Patina, he will be responsible for sales, marketing, operations, practices and recruiting.
Susan Gallagher, who previously served as chief operating officer for the past three years, will now take on the role of executive vice president and chief financial officer at Patina. She will oversee its international business expansion and strengthen the company’s infrastructure, including accounting, human resources, information technology and reporting.