Los Angeles-based private equity investor Riordan, Lewis & Haden has tapped Orange County for its first investment with a new $265 million fund it closed late last month.
Riordan, Lewis & Haden is making a significant investment in Irvine-based employment agency CyberCoders Inc. Details of the deal weren’t disclosed.
“We like their unique model and culture,” said Murray Rudin, a partner in Riordan, Lewis & Haden’s Irvine office.
CyberCoders recruits and places people in mid- to executive-level jobs. Average salaries of people it places run $50,000 to $150,000 a year.
The company was founded in 1999 as a recruiting agency for software engineers. It later expanded to recruit in other big industries. Major clients include Wells Fargo & Co., Microsoft Corp., and Beazer Homes USA Inc.
CyberCoders fits Riordan, Lewis & Haden’s ideal model: a Southern California-based company that is profitable and on the rise.
“We give them help while they’re in the growth mode,” Rudin said.
Riordan, Lewis & Haden’s newest fund, RLH Investors II, is more than double the size of its initial fund. Its investors include pension funds, insurance companies, banks and foundations.
The second fund plans to make two more buys by the end of the year, according to Rudin.
For more on this story, see the May 7 issue of the Business Journal.
