CHICAGO, IL (June 11, 2018) — The Planet Group (“Planet”), a leading provider of outsourced human capital and consulting solutions, announced today that it has entered into an agreement to acquire R121, an international IT staffing firm. Mike Stomberg, CEO of Planet, said that the acquisition is a significant milestone in Planet’s strategic initiative to diversify its portfolio of service offerings and drive continued growth.
Established in 2003, R121 is an internationally recognized IT staffing firm. In 2015, the management team implemented organizational changes which have enabled the company to achieve significant growth. Over the years, R121 has solidified its reputation as a flexible, reliable, and professional business partner to some of the most recognized corporations throughout the United States.
Stomberg added, “R121 is a dynamic partner for Planet. Their team brings a breadth of experience and depth of knowledge that will both complement and expand our global footprint. Both organizations are driven by a passion for leadership and a commitment to building a world class organization.”
MidOcean Partners, a premier middle market private equity firm, made a significant investment in Planet in January 2018 to accelerate the company’s strategic initiatives and drive continued growth. Planet will look to continue to accelerate its growth through future M&A activity.
Transact Capital Partners, LLC acted as the exclusive advisor to R121.
The Planet Group is a diversified professional services organization focused on providing high-value outsourced human capital solutions and niche consulting services to Fortune 500 and other leading clients in the fastest growing and most in-demand sectors. The Planet Group consists of six related entities and has been purposefully built to address the professional services needs of leading companies in the life sciences, diversified energy & engineering, healthcare and digital marketing industries. The Company was founded in 2009 and is headquartered in Chicago, Illinois.
R121 provides IT staffing services specializing in SAP, Big Data, and Cloud Technologies. Committed to innovation and customer service, R121 has a unique validation process that connects the right people to the right assignment. Servicing over 500 clients since inception, R121 primarily supports projects for: Life Science, Aerospace & Defense, Media, Technology, and Retail sectors.
MEDIA CONTACTS
The Planet Group
Carolyn Durham
cdurham(at)planet-pharma.com
MidOcean Investor Relations
MidOcean Partners
Bradley Tipper
IR(at)midoceanpartners.com
