Former Jefferson Wells founder starts placement firm

The Business Journal of Milwaukee - by Rich Kirchen

Mike Harris, who has started several professional services, recruiting and staffing firms including Jefferson Wells, has raised $1.4 million in angel investments for his latest idea — placing retired baby boomers on short-term assignments in professional fields like engineering and accounting.

The new company is called Patina Solutions, a name Harris chose because of the patina-like layer of life and work experience that boomers bring to the professional workplace.

“We call it a personal patina,” he said.

Patina Solutions has five employees and is based in West Allis office space it shares with another firm Harris founded, Sagence Group, which is a management advisory firm formerly known as SilverTrain Inc.

Harris is president and chief executive officer of Patina Solutions and one of the initial investors. The co-founder and vice president is Deborah Seeger, a former Jefferson Wells executive who’s also an investor.

Patina Solutions has two sales representatives who started pursuing clients one month ago.

Harris expects the concept to catch on quickly and predicts revenue of $1 million to $1.5 million in 2009 and up to $5 million by 2010. The company plans to open two additional offices in other cities within the next 18 months and have 25 offices within five years.

Raising money from angel investors took about two months starting this summer, Harris said. Most of the investors are from the Milwaukee area, he said.

“I’ve raised a lot of money over the years,” Harris said. “This was the easiest round of funding I’ve been involved in.”

He believes the reason for the positive response was that his concept is tapping into timely personnel trends in the professional world. First, huge numbers of baby boomers are retiring and still interested in working at least part time. Second, employers value boomers’ work ethic and expertise.

“It’s kind of a feel-good business,” Harris said. “Corporations are going to like this. And workers in our demographic are going to enjoy the flexible arrangements.”

Businesses can get “baby boomer talent on demand” from Patina Solutions, Seeger said. Employers can contract with the firm for short-term or long-term projects.

Large range

Patina Solutions is recruiting professionals ranging from former CEOs and other top executives to administrative assistants. Hourly billing rates will range from about $40 to $200 per hour, depending on the level of professional an employer is seeking.

The firm already has 100 people in its talent pool from word-of-mouth and is running recruitment ads on the AARP Web site and elsewhere. Harris and Seeger believe the firm can place talent in all industries and fields.

Harris’s most successful venture to date was Jefferson Wells, a professional services firm he founded in 1995 that he and his investors sold in 2001 to Manpower Inc. for $174 million.

Five years later, in 2006, Harris and private equity firm Adams Street Partners formed Adams Harris, a Chicago firm whose professional services include accounting and finance.

Harris also remains chairman of Novo Group, a Milwaukee professional services recruiting firm.

Harris, 48, said he typically develops an idea and gets a company started, then steps back from a front-line role to embark on his next business.

“I think I’m a serial entrepreneur,” Harris said. “I love to start businesses. I can’t help it — I’m an idea person.”