Two Sigma Impact, the impact investing business of Two Sigma, has acquired Eclipse Advantage, a provider of outsourced supply chain workforce services that specializes in servicing warehouses and distribution centers across the US and Canada.
“Since inception, we’ve provided market-leading supply chain workforce solutions to ensure businesses are operating as efficiently and productively as possible, all while creating quality jobs,” said Pete Westermann, chief executive officer of Eclipse. “As we work through disruptions in the labor force, we’re proud to be part of the solution and remain committed to offering access to talent at predictable costs. We’re thrilled to partner with a like-minded organization such as Two Sigma Impact that recognizes the value of employee engagement and wellbeing. We look forward to continuing our decades of growth alongside Two Sigma Impact, and to leverage their data science capabilities to complement our innovative technology to help grow our customer base and identify the best talent.”
“We are excited to partner with a company that is closely aligned with our workforce impact mission and dedicated to creating good jobs while developing talent that will drive our economy forward,” said Ian Blasco, partner at Two Sigma Impact. “For decades, Eclipse has bridged the gap between workers and employers, and over the past year they’ve been on the frontlines confronting the labor shortage caused by COVID-19. Eclipse is a people-based business where the ability to attract and retain workers is critical to the success of the business. We plan to build on their strong foundation by investing to improve employee and employer alignment, while at the same time leverage our data and technology capabilities to advance the employee and customer experience through enhanced workforce analytics, market assessments and sales infrastructure.”
The acquisition of Eclipse is Two Sigma Impact’s fourth investment since the launch of the business in late 2020, following investments in workforce development company Penn Foster, B2B personal care e-commerce provider Wholesale Supplies Plus and in-home pediatric therapy leader Circle of Care.
Citizens M&A Advisory served as exclusive financial advisor to Eclipse Advantage, with Freeport Financial Partners providing financing for the transaction.