The Planet Group Announces Agreement to Acquire WinterWyman, a Leading Staffing Firm in the Northeastern U.S. Market
November 18, 2019
CHICAGO, IL – November 18, 2019 – The Planet Group (“Planet”), a portfolio company of MidOcean Partners and leading provider of outsourced human capital and consulting solutions, announced today that it has entered into an agreement to acquire WinterWyman, a leading staffing provider specializing in Technology, Finance & Admin and Human Resources. Michael Stomberg, CEO of Planet, said that this acquisition aligns with Planet’s strategic initiative to provide a full suite of consulting and strategic resourcing solutions to our global client base.
Established in 1972, WinterWyman is a premier provider of contract staffing services and is among the best-known talent acquisition firms in the Northeastern U.S. Over the years, WinterWyman has developed an excellent reputation for client and candidate satisfaction fostered by a tenured team recruiting high-impact talent in several key functional areas.
WinterWyman will continue to be led by current CEO Scott Ragusa, a staffing industry veteran and recognized leader who has been with the company since 1999. Ragusa commented, “We’re proud of all we have accomplished at WinterWyman during our 47-year history and excited about our future with The Planet Group. We look forward to continued growth and success as part of this prestigious organization.”
“This is a landmark deal for Planet as we continue to follow our expansion strategy,” said Stomberg. “WinterWyman’s current service offerings complement Planet’s existing workforce solutions and the addition provides significant cross-selling opportunities.” The combination of these two businesses further strengthens Planet’s rapidly growing position in the industry as a provider of choice offering a comprehensive suite of professional staffing and consulting services.
MidOcean Partners, a premier middle market private equity firm, made a significant investment in Planet in January 2018 to escalate the company’s strategic initiatives and drive continued growth. Planet will look to continue accelerating its expansion through future M&A activity.
Bowstring Advisors, a division of Citizens Capital Markets, acted as the exclusive financial advisor to WinterWyman.
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About The Planet Group
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.
About MidOcean Partners
MidOcean Partners is a premier New York-based alternative asset manager that specializes in middle market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has managed approximately $4.8 billion of committed capital and has targeted investments in high-quality middle market companies in the consumer and business services sectors. MidOcean Credit Partners was launched in 2009 and currently manages over $7.5 billion across a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts as of September 30, 2020.
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