Management Resource Group, Ltd., Davenport, has announced the retirement of MRG Chairman and CEO Dan Portes and the company’s acquisition by The Overture Group, a Cedar Rapids, Iowa-based executive search firm.
In a news release today, Dec. 14, MRG — led for 38 years by Mr. Portes — said the decision marks the end of an era for the company synonymous with excellence in talent management and consulting since 1985. Mr. Portes’ retirement also was effective today.
“I am profoundly grateful for the incredible journey with MRG, and it has been an honor to serve alongside dedicated employees and colleagues, with whom I have forged lasting relationships,” Mr. Portes said in the release. “As I embark on this new chapter called retirement, my heart is full of appreciation for the meaningful connections we’ve cultivated together.”
Financial details of the transaction were not disclosed.
The Overture Group, led by Founding Partner Brandi Mueller, brings 25 years of executive search experience and fresh perspectives to build upon the strong foundation laid by MRG.
Seamless transition expected
The Overture Group, whose core values are built on collaboration, passion and authenticity, is positioned to take the reins during this transition period ensuring a seamless continuation, the release said.
According to Ms. Mueller, the companies are working together during the transition. She told the QCBJ that some of MRG’s staff will assist The Overture Group as needed during the transition. But a number of MRG staff are planning to retire.
“We are honored to carry forward the legacy of excellence established by Dan and the Management Resource Group,” Ms. Mueller said in the release. “The Overture Group is committed to building on the strong relationships forged by MRG and continuing to provide unparalleled solutions to our clients.”
Throughout this transition, both MRG and The Overture Group said they are dedicated to ensuring a seamless transfer of responsibilities and processes, while maintaining open lines of communication with clients, partners, and employees.
The Overture Group has offices in Cedar Rapids and in Lisle, Illinois, employing two in Iowa and seven in the Chicago area office.
“We will evaluate the need for additional office space and employees in the QC area as the transition evolves,” she said in an email to the QCBJ.
For more information on Overture, visit its website here or call (319) 366-3688.
