Mid market private equity firm MidOcean Partners (MidOcean) has sold its majority investment in The Planet Group (Planet), one of the world’s leading diversified professional services organisations.
Planet will be merging with ProPharma Group (ProPharma), a portfolio company of Odyssey Investment Partners. Financial terms of the transaction were not disclosed.
MidOcean invested in Planet in January 2018, and since that time, Planet has grown significantly, entered new markets, and executed accretive acquisitions that drove strong financial and operational performance. Under MidOcean’s stewardship, Planet successfully acquired and integrated IT Works Recruitment, Interactive Business Systems, NDA Partners, and WinterWyman among other strategic businesses. In 2020, Planet was named one of the Fastest Growing US Staffing Firms by Staffing Industry Analysts.
Headquartered in Chicago, Planet provides high-value outsourced global workforce solutions and consulting services to Fortune 500 and other top companies. Planet’s family of nine entities was purpose-built to service leading companies in the life sciences, diversified energy, engineering, financial, healthcare, technology and digital marketing sectors. Planet strengthens the employer-employee dynamic by connecting clients with talent, which creates enduring, valuable relationships.
Read more/Source: Private Equity Wire
