The Planet Group Announces Agreement to Acquire Interactive Business Systems, a Flexible IT Staffing and Solutions Provider
November 16, 2020
CHICAGO NOVEMBER 16, 2020 - 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 Interactive Business Systems (IBS), a provider of flexible IT staffing and solutions. Michael Stomberg, CEO of Planet, said that this acquisition aligns with Planet’s strategic initiative to provide a full suite of enhanced consulting and strategic resourcing solutions to the company’s global client base.
Founded in 1981 and headquartered in Oak Brook, Illinois, IBS offers reputable, customized IT staffing/consulting services to a diversified and very tenured client base. The dedicated staff and management team at IBS excels in providing exceptional contract staffing, deliverable-based project solutions and managed service engagements, with a strong industry presence in the Midwest and an offshore delivery center in India.
IBS is led by industry veteran, Dan Williams, and current President and COO, Jeff Jorgensen. “We’re proud of all we have accomplished at IBS during our 40-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,” said Williams.
“IBS is the perfect complement to Planet’s existing Technology services and further strengthens our rapidly growing position in the industry as a provider of choice, offering a comprehensive suite of professional staffing and consulting services,” said Stomberg.
MidOcean Partners, a premier middle market private equity firm, made a majority 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.
ABOUT INTERACTIVE BUSINESS SYSTEMS
Headquartered in Oak Brook, Illinois, Interactive Business Systems has nearly 40 years of experience in IT consulting. Committed to personal service, IBS offers reputable, customized IT staffing/consulting services to a diversified and very tenured client base. The dedicated staff and management team at IBS excels in providing exceptional contract staffing, deliverable-based project solutions, and managed service engagements, with a strong industry presence in the Midwest and offshore delivery center in India. Learn more at https://www.ibs.com.
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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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