Addison Group, a professional staffing firm and a portfolio company of Lake Capital Partners, has entered into an agreement to be acquired by Trilantic Capital Partners. The management team of Addison Group is participating in this transaction alongside Trilantic. Lake Capital first invested in Addison Group in May 2006.
Addison Group provides specialized temporary and permanent placement of finance and accounting, information technology, and clerical personnel. Addison’s wholly owned subsidiary, inSync Staffing (www.insyncstaffing.com), specializes in providing staff augmentation services to the managed service provider market. Addison Group was founded in 1999 and is headquartered in Chicago and has offices in Boston, Houston, and Schaumburg, IL (www.addisongroup.com).
“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,” said Jon Mattson, Partner at Trilantic.
Trilantic Capital Partners makes control and significant minority investments in North America and European companies. Sectors of interests include consumer, energy, financial and business services. Trilantic was formed in 2009 by the former principals of Lehman Brothers Merchant Banking. Trilantic currently manages two institutional private equity funds with total capital commitments of $5.6 billion. The firm is based in New York (www.trilantic.com).
“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.”
Lake Capital invests in service-based enterprises. Service sectors of specific interest include marketing, finance, operations and infrastructure, healthcare services, specialty consumer, technology, and business process outsourcing. The firm currently manages more than $1 billion in equity commitments and is based in Chicago (www.lakecapital.com).
“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 Moran, Chief Executive Officer of Addison Group. “We are very excited about this new chapter for Addison Group.”
William Blair & Company acted as the exclusive financial advisor to Addison Group.
© 2013 PEPD • Private Equity’s Leading News Magazine • 9-30-13
