May 2, 2017 — Firm News
Paul Rodriguez founded NSC Technologies, a staffing and workforce management company, at age 24 in 2000 while living in his mother's garage in Newport News, Virginia. Sixteen years later, the company had grown into a $55 million direct staffing provider on track to exceed $100 million in revenue.
Rodriguez's entrepreneurial journey began at age 23 when he joined a founding team at another staffing company. However, the owner embezzled company funds and the business collapsed within six months. This setback devastated Rodriguez financially and emotionally, forcing him to move back with his parents while he regrouped.
His father posed a pivotal question: "Can you start the business again -- by yourself?" With a $17,000 loan from his father, Rodriguez launched NSC Technologies. Securing payroll factoring proved challenging due to his lack of experience and credit history. After initial rejection, Rodriguez flew to Cleveland to personally persuade a factoring company representative, ultimately securing the necessary funding to launch his venture.
As NSC Technologies grew, Rodriguez joined the Young Presidents' Organization, a leadership association for CEOs. Through this network, investment banker Patrick Gallagher introduced him to private equity possibilities. Though initially hesitant about relinquishing ownership, Rodriguez eventually decided to explore options.
In November 2016, NSC Technologies partnered with White Wolf Capital, a Miami-based private equity firm. Rodriguez was attracted to White Wolf's philosophy: "They're not interested in 100% acquisitions" and focus on helping companies grow rather than extracting maximum value.
Under White Wolf's guidance, NSC Technologies implemented significant operational changes, including hiring experienced executives and shifting from gut-based to data-driven decision-making. Within six months, the company had identified multiple acquisition targets in complementary staffing sectors.
A note appended to the article indicates that by December 2020, NSC Technologies had completed six add-on acquisitions, bringing total revenue to over $200 million.