HR Technology Acquisition

Building a Qualified Acquisition Pipeline in Healthcare Staffing

Client

A healthcare staffing firm seeking acquisitions in both healthcare staffing and adjacent staffing verticals.

Challenge

The client wanted to expand their business through acquisitions, targeting both similar medical staffing businesses and adjacent verticals to diversify revenue streams. However, they lacked:

• A dedicated team member to source a steady flow of qualified off-market targets.
• The bandwidth to research, engage, and nurture seller relationships while running daily operations.

They needed a partner to own the deal sourcing process and deliver a deal-ready pipeline within a couple of months. 

Solution

LongBoard became the client’s embedded corporate development function, managing the research, outreach, and early qualification of acquisition targets.

Our process included:

• Acquisition Criteria Alignment – Defined industry focus, financial profile, geography, team size, buyer value proposition, and preferred deal structures/timelines.
• Custom Outreach Development – Built personalized email, LinkedIn, and phone outreach templates, plus tailored talk tracks for initial calls.
• Proprietary Sourcing Process – Leveraged our research platform and industry databases to identify every relevant company that fit the client’s M&A profile.
• Direct Seller Engagement – Initiated conversations, qualified interest, and introduced high-potential sellers to the client’s executive team.

Results (Aug–Sept 2024)

• 641 potential targets identified.
• 212 confirmed as highly qualified.
• 546 outreach touches via email, phone, and LinkedIn.
• 14 direct responses from qualified sellers.
• 8 meetings completed with potential acquisition targets.
• All active opportunities remain in the pipeline, advancing through stages from Initial Meeting Completed to LOI Signed.

Impact

• Established a scalable, repeatable sourcing process in under 60 days.
• Delivered a high-quality, off-market target list—avoiding competitive auctions.
• Created active engagement with multiple sellers, positioning the client for near-term deal execution.