Addison Group, an IT and finance/accounting staffing firm, has a new owner. Private equity firm Odyssey Investment Partners LLC announced today that it sold Addison Group to Trilantic North America, a private equity firm based in New York.
Terms of the transaction were not announced.
Addison is based in Chicago and was founded in 1999. Its brands include AIM Consulting, Bridgepoint Consulting, DLC and ArcLight. Addison employs more than 2,200 professionals across 32 offices in the US. The company ranks No. 31 on SIA’s list of largest US staffing firms.
Odyssey had acquired Addison in December 2016.
“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,” said Jonathan Place, managing principal at Odyssey.
Acquisitions by Addison included the July 2021 announcement that it acquired ArcLight Consulting, a provider of human capital management cloud implementation services. The company also announced in November 2017 that it acquired Bridgepoint Consulting, a Texas-based management consulting firm, and in May 2017 announced the acquisition of AIM Consulting, a technology consulting firm headquartered in Seattle.
In a separate announcement today, Addison noted Trilantic had previously been an investor in the company from 2013 to 2016. It also reported Trilantic was joined in the deal announced today by a group of co-investors that include funds managed by Neuberger Berman.
“We thank Odyssey, whose partnership with Addison has created significant value for the business,” Addison CEO Tom Moran said. “We look forward to partnering with Trilantic North America again during this exciting time for our company and industry.”
Trilantic’s portfolio also includes healthcare staffing provider Ingenovis Health Inc., the parent company of Fastaff, trustaff, US Nursing Corp., CardioSolution and Stella. Last November, Ingenovis also acquired Healthcare Support, a healthcare staffing firm focused on allied healthcare.