NEW YORK--(BUSINESS WIRE)--Odyssey Investment Partners, LLC (“Odyssey”), a middle-market private equity firm, today announced it has sold its portfolio company Addison Group (“Addison”), a leading, Chicago-based professional services firm specializing in talent solutions and consulting to Trilantic North America. Financial terms of the transaction were not disclosed.
Founded in 1999, Addison Group offers a full suite of resources across the Technology, Finance & Accounting, Non Clinical Healthcare, Administration, Human Resources, and Digital Marketing industries. Its talent solutions include professional staffing services, recruiting and executive search, and its leading consulting brands include AIM Consulting, Bridgepoint Consulting, DLC, and ArcLight.
Odyssey invested in Addison in December 2016 and, since that time, Addison more than tripled in size by entering new markets, expanding its service offerings to include project consulting across technology, finance, and accounting to complement its legacy talent solutions offerings, and completing five strategic acquisitions. The Company currently employs over 2,200 professionals across over Thirty-two offices in the United States.
"Addison Group is a market-leading business in both the talent solutions and consulting markets with tremendous runway for continued growth," said Jeffrey McKibben, Senior Managing Principal at Odyssey. "It has been a privilege working alongside the management team to execute on our strategic goals. We wish them continued success as they embark on the next phase of their journey."
Jonathan Place, Managing Principal at Odyssey, added, "Our investment thesis was to broaden Addison’s geographic reach, customer base and service offerings, and move up the value chain into higher-end project consulting work. Through a combination of organic growth initiatives and strategic acquisitions, we successfully helped to transform Addison into a larger, higher-growth, more-diversified business, and achieved a significant return on our investment.”
Tom Moran, Chief Executive Officer of Addison, said, “Addison has experienced accelerated growth coming out of the pandemic, and by always putting people first we are extremely well positioned to take full advantage of the quickly changing human capital environment. We thank Odyssey, whose partnership with Addison has created significant value for the business. We look forward to partnering with Trilantic North America again during this exciting time for our Company and industry.”
Houlihan Lokey and Credit Suisse served as financial advisors to Addison in connection with the transaction. Latham & Watkins LLP served as legal counsel to Addison.
About Addison Group
Founded in 1999, Addison Group is a leading professional services firm specializing in talent solutions and consulting. Addison delivers the expertise and talent companies need to achieve and sustain business growth. The Company offers a full suite of consulting and recruiting capabilities across multiple sectors, including information technology, finance and accounting, healthcare, human resources, administrative, and digital marketing. With a growing network of companies, offices across the United States, and deep relationships in regional and local markets, Addison Group is one of the top talent solutions and consulting companies in the US, providing industry-leading expertise with a national reach and a localized touch. Founded in 1999, Addison has been repeatedly recognized by the media as one of the fastest-growing private companies in the United States and a top workplace and a Best of Staffing Company by Inavero. Learn more at https://addisongroup.com.
About Odyssey Investment Partners
Odyssey Investment Partners, with offices in New York and Los Angeles, is a leading private equity investment firm with more than a 25-year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified businesses 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, please visit www.odysseyinvestment.com.
