Investment funds managed by Morgan Stanley Capital Partners announced the sale of marketing/creative staffing firm 24 Seven LLC to a single asset general partner-led continuation investment vehicle managed by an affiliate of MSCP. The continuation fund is led by Glendower Capital with participation from other secondary investors including Pantheon.
Headquartered in New York City, 24 Seven ranks third on SIA’s list of largest marketing creative staffing firms in the US with $165 million in 2020 US marketing/creating temporary staffing revenue. Celeste Gudas, who this year transitioned from CEO to board chairman, founded the company in 2000; it now has 14 offices worldwide.
24 Seven was MSCP’s fourth investment in the human capital management space, which is a core sub-sector within MSCP’s broader business services effort.