Addison Group, a portfolio company of Odyssey Investment Partners since December 2016, has acquired Mondo, a professional staffing firm specializing in information technology and digital marketing.
Mondo specializes in high-end, niche IT, tech, and digital marketing placements at midsize to enterprise-level companies, along with recently VC-funded startups. The company, led by CEO Tim Johnson, is based in New York City with nine additional offices across the US (www.mondo.com). Mondo will continue to operate within their current office spaces and retain its senior management team.
Addison Group is a professional staffing company with specialties across multiple verticals and end markets for both temporary and permanent placements. Addison primarily places information technology, finance, accounting, non-clinical healthcare, human resources, and administrative employees at its clients. Addison is headquartered in Chicago and has 15 additional offices across the US (www.addisongroup.com).
The acquisition of Mondo complements Addison’s existing information technology business with the addition of a digital marketing vertical and expands its geographic coverage into Atlanta and Los Angeles. The company’s growth strategy is to broaden its national service offerings through both organic growth and the acquisition of additional specialized staffing firms.
“The opportunity to leverage Addison Group’s proven performance and high-caliber information technology staffing teams across the country while expanding to LA and Atlanta was an extremely attractive one, and we are excited to expand our portfolio of services with the addition of digital marketing,” said Thomas Moran, CEO of Addison Group. “This partnership will allow us to utilize our combined strengths to continue to bring the highest level of service to our shared client base, while also presenting new opportunities to expand the Addison Group brand.”
Odyssey makes control investments in middle-market companies that have from $20 million to $100 million of EBITDA. Sectors of interest include industrial and business services. The firm has offices in New York and west of Los Angeles in Woodland Hills, CA (www.odysseyinvestment.com).
Bowstring Advisors (www.bowstringadvisors.com) was the financial advisor to Mondo on this transaction.
© 2018 Private Equity Professional | December 11, 2018