Addison Group Announces Partnership with Trilantic Capital Partners
Chicago, IL – September 30, 2013 – Addison Group (“Addison”), a professional staffing firm, today announced that it has entered into an agreement with Trilantic Capital Partners (“Trilantic”), a global private equity firm, to form a partnership that will support Addison Group’s organic and acquisition growth strategy. As part of the transaction, Trilantic, along with Addison management, will acquire Addison Group from Lake Capital Partners, a private equity firm that focuses on investments in service-based enterprises.
Addison Group is a Chicago-based professional staffing services firm that has continually been recognized as a top performer within the staffing industry. Named in Crain’s “Fast Fifty” for four years, as well as Inc. 500/5000 lists for seven years and the Best of Staffing Lists for both candidates and clients for the past three years, Addison Group has shown strong leadership and performance within the staffing industry.
“We look forward to Trilantic’s strategic and financial support as we continue to execute on our growth strategy, which includes expanding nationally through both organic initiatives and executing tuck-in acquisitions,” said Thomas B. Moran, Chief Executive Officer of Addison Group. “We are very excited about this new chapter for Addison Group.”
Jon Mattson, Partner at Trilantic, added, “We are thrilled to begin this partnership with Addison Group. Through its exceptional client and candidate service and its focus on hard-to-find skill-sets, management has successfully built Addison into a highly regarded professional staffing business. Their superior top line growth is a testament to their dedication to operational excellence. We plan to provide substantial additional strategic capital to fuel Addison’s organic growth and support future acquisitions.”
“Lake Capital was pleased to work closely with management to build Addison Group, a world-class, client-focused staffing enterprise," said Lake Capital principal Terence Graunke. "This initiative represents well our firm's mission to partner with entrepreneurs and management teams to build leading service-based companies through strategically-directed organic and acquisition-enhanced growth. We thank and congratulate the Addison team and Trilantic Capital Partners, and wish them continuing success."
William Blair & Company acted as the exclusive financial advisor to Addison Group. Financial terms of the transaction were not disclosed.
About Addison Group
Addison Group is a leading provider of professional staffing services. Bringing the best candidates to the best clients, Addison 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, Administration, and Vendor Management Services. Learn more at www.addisongroup.com.
About Trilantic Capital Partners
Trilantic Capital Partners is a private equity firm focused on control and significant minority investments in North America and Europe with a primary investment focus in the consumer, energy, financial and business services sectors. Trilantic currently manages four institutional private equity funds with aggregate capital commitments of $5.9 billion. Learn more at www.trilantic.com.
About Lake Capital
Lake Capital is a private equity firm that focuses on investments in service-based enterprises. The firm currently manages more than $1 billion in equity commitments and seeks to build leading services companies through organic and acquisition enhanced growth. More information about Lake Capital is available at www.lakecapital.com.
On behalf of Trilantic Capital Partners
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