Private equity firm MidOcean Partners sold its majority investment in The Planet Group, which will now merge with ProPharma Group, a portfolio company of Odyssey Investment Partners.
The transaction closed May 26; financial terms and ownership shares were not disclosed. The Planet Group brand will remain and all executives will stay with their existing titles.
“This is a powerful combination of two highly complementary businesses, creating an opportunity to enhance growth prospects across their collective service offerings,” said Tug Fisher, principal of Odyssey Investment Partners. “We are confident this merger will solidify the combined company’s reputation as a value-added partner to its clients. Odyssey is excited to continue supporting management in building a unique business poised for rapid growth.”
Read more/Source: Staffing Industry Analysts
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