New York–(work wire) – Odyssey Investment Partners, LLC (“Odyssey”), a mid-market private equity firm, announced today that it has sold its investment portfolio company Addison Group (“Addison”), a leading Chicago-based professional services firm specializing in talent solutions and consulting for the America Triangle. North. The financial terms of the deal were not disclosed.
Founded in 1999, The Addison Group offers a full range of resources across technology, finance, accounting, non-clinical healthcare, management, human resources, and digital marketing. Its talent solutions include professional recruitment, recruitment and executive search services, and leading consulting brands include AIM Consulting, Bridgepoint Consulting, DLC and ArcLight.
Odyssey invested in Addison in December 2016, and since that time, Addison has 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 solution offerings, and completing five strategic acquisitions. The company currently employs more than 2,200 professionals in more than 32 offices in the United States.
“Jeffrey McKibbin, Senior General Manager at Odyssey, said the Addison Group is a market leader in both the talent solutions and advisory markets with a massive amphitheater for continued growth.Working alongside the management team has been a privilege to implement our strategic goals. We wish them continued success as they embark on the next phase of their journey.”
Jonathan Bliss, General Manager at Odyssey, added,Our investment thesis was aimed at expanding Edison’s geographic reach, customer base and service offering, and upgrading the value chain into a high-quality project consulting business. Through a combination of organic growth initiatives and strategic acquisitions, we have successfully helped transform Addison into a larger, more growing and more diversified company, and have delivered a significant return on our investment. ”
Tom Moran, CEO of Edison, said:Addison has experienced exponential growth brought on by the pandemic, and by always putting people first, we are in a very good position to take full advantage of the rapidly changing human capital environment. We thank Odyssey, whose partnership with Addison has created significant business value. We look forward to partnering with Trilantic North America again during this exciting time for our company and industry.”
Houlihan Lockey and Credit Suisse acted as financial advisors to Edison in connection with the transaction. Latham & Watkins LLP served as legal counsel for Addison.
About the Edison Group
Founded in 1999, Addison Group is a leading professional services company specializing in talent solutions and consulting. Addison brings the expertise and talent companies need to achieve and sustain business growth. The company offers a full range of consulting and staffing capabilities across multiple sectors, including information technology, finance, accounting, healthcare, human resources, managerial and digital marketing. With a growing network of businesses and offices across the United States, and deep relationships in regional and local markets, Addison Group is one of the top talent solutions and consulting firms in the United States, providing industry-leading expertise with a national reach and localized touch. Contact. Link. Founded in 1999, Addison has been repeatedly recognized by the media as one of the fastest growing private companies in the United States, Best Workplace and Best Hiring 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 over 25 years of partnering with skilled managers to transform mid-market companies into more efficient, diversified businesses with strong growth profiles. Odyssey makes majority controlled investments in industries with a positive long-term outlook and favorable secular trends. For more information on Odyssey, please visit www.odysseyinvestment.com.