Addison Search Expands Professional Staffing Reach via Strategic Acquisition »
CHICAGO, Feb 27, 2012 (BUSINESS WIRE) — Addison Search, a leading provider of professional staffing services, today announced the acquisition of Addison Group, an Oklahoma-based firm that connects information technology, financial, administrative and engineering professionals with talent-driven organizations. Despite the similarity in names, the companies had no prior connection.
The acquisition provides Addison Search a leading presence in several new high-growth markets, anchored by a tenured leadership team. The transaction is aligned with Addison’s strategy to expand its national service footprint through organic growth and acquisition of high-growth, high-margin firms with a complementary service offering.
“We saw a clear opportunity to leverage Addison Group’s high-caliber team and proven performance into a powerful combined solutions provider,” said Thomas Moran, CEO of Addison Search. “The strong operational and cultural alignment between our two firms provides a ready-made platform for exceptional delivery.”
David Morgan, President of Addison Search, added, “This partnership amplifies our national model for operational best practices based on innovative technology, in-depth screening and key metrics. We share a collective vision of bringing people and companies together to achieve the remarkable.”
Addison Group was founded in 2002 by David Moore and Rob Zumwalt, and the firm has experienced consistent and significant growth since inception. Both principals, along with Managing Partner Jason Reagan, will retain senior leadership roles with the expanded company. “We could not be more excited about the future,” said Moore, Founding Partner. “Our combination with Addison Search will create an impactful organization committed to quality, integrity and results,” said Zumwalt, Founding Partner.
Addison Search is a portfolio company of Lake Capital, a private equity firm based in Chicago.
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By Tim Spagnola
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