S.i. Is Acquired by Cornell and TorQuest

Technology & Services

S.i., a portfolio company of Quad-C, sale to Cornell and TorQuest


S.i. Systems (“S.i.” or the “Company”), a portfolio company of Quad-C Management ("Quad-C"), has completed the sale of a majority equity interest to Cornell Capital LLC (“Cornell”) and TorQuest Partners (“TorQuest”). Terms of the transaction were not disclosed.

Baird served as the exclusive financial advisor to S.i. on this transaction.


S.i. Systems was founded in 1994 and is one of Canada's largest IT staffing companies. Headquartered in Calgary, Canada with offices in Edmonton, Vancouver, Toronto, Mississauga, Montreal and Ottawa, S.i. leverages its proprietary MatchGuide technology to offer its customers a comprehensive suite of solutions for on-demand access to high-skilled IT talent necessary to support their most critical business initiatives. The Company has a 99.45% success rate in matching candidates successfully to contract and permanent assignments.

Quad-C was founded in 1989 and headquartered in Charlottesville, Virginia., and operates as a middle market private equity firm focused on investing in established business and consumer services, healthcare, industrial, specialty distribution, food & beverage and consumer products, and transportation/logistics companies. In its three-decade history, Quad-C has invested more than $4 billion of capital in 80 platform companies. The Quad-C team is committed to partnering with entrepreneurs and management teams to accelerate growth and create long-term value.

Cornell Capital LLC is a United States-based private investment firm with ~$6 billion of AUM and offices in New York and Hong Kong. Leveraging decades of global investment experience, the firm takes a disciplined approach to investing across the consumer, financial services, and industrials/business services sectors, often in companies that can benefit from Cornell’s Asia presence and cross-border expertise. Founded in 2013 by Senior Partner Henry Cornell, the former Vice Chairman of Goldman Sachs' Merchant Banking Division, Cornell is led by a highly seasoned team with significant shared investment experience.

TorQuest Partners was founded in 2002 and is a Canadian-based manager of private equity funds. With more than CAD $3.5 billion of equity capital under management, TorQuest is currently investing from TorQuest Partners Fund V, a CAD $1.4 billion fund that closed in March of 2020. TorQuest invests in middle market companies and works in close partnership with management teams to build value.
Technology & Services

S.i., a portfolio company of Quad-C, sale to Cornell and TorQuest

November 2022
S.i. Systems
M&A - Sellside
Technology & Services
Human Capital Management
Target Geography
North America
Acquiror Geography
North America