Patina Solutions raises $1 million

Interim executive placement firm growing quickly

Brookfield-based Patina Solutions Group Inc. filed notice with the SEC last week that it is raising up to $1.5 million.

As of the Sept. 28 filing, Patina had already raised $951,438 from 49 investors. The minimum investment from an outside investor is $1,320.

Patina began raising the funding round on May 19.

Mike Harris, president of Patina Solutions, said the company stopped its funding effort when it reached $1 million.

“Patina has been funded by individual angel investors since we started the company,” Harris said via email. “We are working on some exciting new developments to expand our service offerings and to broaden the ways in which we engage and support our growing national ranks of independent executives.”

Harris did not elaborate on the specifics of those plans.

Last year, Patina raised $3.45 million to add more offices to its network and double its sales force. It did not provide specific numbers on those plans. It was the largest investment in the company’s history at that time. The demand for executives in health care, information technology and manufacturing, and work with large corporations like Johnson Controls International plc and Quad/Graphics Inc., were driving its growth.

Patina, founded in 2008, provides companies with experienced executives for key projects and interim positions. In 2016, it was named to the Inc. 5000 list with three-year sales growth of more than 200 percent, during which time it added 229 employees. At that point, it had 14 offices serving a global client base.

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Molly Dill, former BizTimes Milwaukee managing editor.

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