Boston, MA (PRWEB) October 30, 2006
HiProFile LLC, the specialized placement firm located in Boston and other New England cities, announced today a new service offering specifically targeted to the region's vibrant private equity market.
According to CEO John Shaffer, the company has maintained successful relationships with several private equity firms in the past, but only recently decided to "package" its placement services to be more responsive to the financial community.
HiProFile is a small boutique placement firm that responds to requests for searches for Client companies on a multi-search basis. The Company does not charge a fee based on the income of the "head" it is hunting, but instead charges a pre-determined yearly retainer ($100K–200K) covering a number of searches. The "unit cost" (per search) is always significantly lower (up to 50%) than the cost of one traditional retained search.
HiProFile is different from standard recruiters in a number of ways. The most unusual of these is the Company's business model: it does not advertise or solicit "Member Companies." Its research analysts identify companies in selected verticals and revenue categories and issue shortlists of companies for "consideration" for membership. Upon discussion with the company and at their request, a limited-time invitation is made to the prospective member company, with the provision that, should it elect to join, HiProFile will guarantee not to represent any direct competitor of the new Member. This pledge is withdrawn following the invitation period, leaving the non-compete option for another to consider.
According to Shaffer: "Many companies do not believe us when we use the word 'invitation', but they realize we're serious when (and if) we have to withdraw the pledge because we've signed with a competitor." Shaffer adds, "Another factor limiting our growth is capacity. We are not set up (and never want to be) to add 20 new Members a month. Our customer service and high retention rate limit our expansion. The private equity groups benefit from this approach, at least the ones that know us."
Additional questions or information should be directed to Hal Bent, Sr. Director of Communications.
HiProFile LLC * 125 Summer Street * Boston, MA 02110 * 617-345-0007 * http://www.hiprofilellc.com