Addison Group Announces Strategic Investment by Odyssey Investment Partners
CHICAGO – December 19, 2016 – Addison Group, a leading professional staffing firm, announced today that Odyssey Investment Partners (“Odyssey”) has made a strategic investment in Addison Group that will support Addison Group’s organic and acquisition growth strategy.
Addison Group is a Chicago-based professional staffing firm that has been continually recognized as a top performer within the staffing industry. Named a Crain’s “Fast Fifty” company for four years, an Inc. 5000 company for nine, and on Inavero’s Best of Staffing list for the past six years, Addison Group has demonstrated strong leadership and performance within the staffing industry.
“After several years of sustained growth, Addison Group’s partnership with Odyssey arms us with significant capital to propel our growth strategy to the next level. We will remain highly focused on expanding nationally through organic opportunities, while also continuing to add tuck-in acquisitions that complement our business model and culture,” said Thomas B. Moran, Chief Executive Officer at Addison Group.
Jeffrey McKibben, a Managing Principal at Odyssey, said, “We are excited about the opportunity to invest in Addison Group, a leader in the professional staffing industry with several attractive growth opportunities. The Addison management team has done a great job of building the business and positioning it to build on its previous success. Our firm has a strong track record of partnering with management teams in the business services sector to grow their businesses and solidify their leading market positions. We look forward to collaborating with Tom Moran and his colleagues and sharing our experience to help Addison achieve its strategic objectives.”
Completion of the transaction is expected prior to the end of the year at which time Trilantic Capital Partners will exit the investment it made in Addison in 2013. William Blair acted as exclusive financial advisor to Addison Group in connection with the investment.
"Addison Group is an outstanding business with tremendous growth and impressive financial performance," said Jeremy Lynch, a partner at Trilantic North America. "It has been a privilege working alongside Tom and the rest of his extremely talented management team, and we wish them continued success as they embark on their new partnership with Odyssey."
About Addison Group
A leading provider of professional staffing and search services, Addison Group combines a national network and localized service for broad reach with a personal touch. Specialized practices deliver the right candidate at the right time in Information Technology, Finance & Accounting, Healthcare, Executive Search, HR & Administrative, and Engineering. Addison Group has received Inavero’s Best of Staffing for the past six years. For more information, visit www.addisongroup.com.
About Odyssey Investment Partners
Odyssey Investment Partners, LLC with offices in New York and Los Angeles, is a leading private equity investment firm with more than a 20 year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified business with strong growth profiles. Odyssey makes majority controlled investments in industries with a long-term positive outlook and favorable secular trends. For further information about Odyssey Investment Partners, LLC, please visit www.odysseyinvestment.com.
About Trilantic North America
Trilantic Capital Management L.P. (“Trilantic North America”) is a private equity firm focused on control and significant minority investments in North America. Trilantic North America’s primary investment focus is in the business services, consumer, energy and financial services sectors. Trilantic North America currently manages four private equity fund families with aggregate capital commitments of $5.9 billion. For more information, visit www.trilantic.com.