New York, NY – July 15, 2021 – Tenex Capital Management (“Tenex”) is pleased to announce its investment in BELAY Solutions, a virtual staffing company that offers assistants, bookkeepers, social media strategists, and website specialists services.
BELAY was founded in 2010 by husband and wife team Bryan and Shannon Miles. The company is headquartered in Atlanta, GA, but the team is spread out across 48 states given the remote work model the company has historically maintained. The company prides itself on a highly selective acceptance rate that results in high performing outsourced specialists.
BELAY CEO Tricia Sciortino remarked, “As a part of the Tenex portfolio of companies, we have the opportunity to reinvest in BELAY. To reinvest in our teams. To reinvest in staffing that matches our projected growth. To reinvest in next-generation marketing efforts. To reinvest in our people, our most valuable asset. It’s with those people that we’ve enjoyed extraordinary success, so we can’t wait to see what our future holds.”
“In a post-COVID world, labor markets have tightened, retention of talent has become increasingly challenging, and company hiring needs have grown and changed,” said Joe Cottone, Tenex Managing Director. “The adoption of remote work, however, has proven extremely effective in many more situations than previously thought. We are very excited to partner with BELAY, whose mission is to help solve these issues by removing local geographic barriers to uncover hard-working talent at cost-effective prices. It’s a win for everyone. Tenex looks forward to investing in BELAY’s innovative team and building on its leadership in remote staffing solutions.”
The transaction was effective as of June 25, 2021.
About BELAY Solutions:
Growing an organization is difficult in our demanding world. BELAY helps clients thrive by matching companies with dedicated, professional, U.S.-based virtual staff who can take on key projects and handle routine responsibilities, allowing executives and company owners to focus on growing their businesses. For additional information, please visit www.belaysolutions.com.
About Tenex Capital Management:
Tenex Capital Management is a private equity firm that invests in middle market companies. Tenex uses an in-house team of hybrid investment professionals skilled in operational leadership, investing, and capital markets structuring to maximize long-term value creation. Tenex’s deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities. Tenex has successfully invested in a diverse range of industries, including industrials, business services, healthcare, building products, and auto aftermarket, among others. For additional information, please visit www.tenexcm.com.