Acquisition Further Expands Planet’s Technology Portfolio Allowing Expanded Staffing Services
CHICAGO, IL (April 1, 2021) – 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 I.T. Works Recruitment, Inc., a niche Tech recruitment firm that places candidates in permanent and contract positions across North America. Michael Stomberg, CEO of Planet, said this acquisition will further expand Planet’s current Technology portfolio through enhanced staffing services, which align with the company’s strategic human capital initiatives.
Originally founded in the U.K. in 2004, I.T. Works Recruitment expanded into the U.S. in 2013 and is headquartered in Atlanta, Georgia. The dedicated staff and management team at I.T. Works Recruitment specializes in sourcing and placing hard-to-find expert candidates into Tier 2 software system assignments for implementations, upgrades, and customizations in niche markets including enterprise resource planning (ERP), human capital management (HCM), and healthcare electronic medical records (EMR) applications. I.T. Works Recruitment offers an extensive network of highly vetted candidates for both permanent and contract positions to a diversified client base.
I.T. Works Recruitment is led by Founder and CEO Gary Dytor who said: “We have had an amazing journey so far and that can only be a testament to everyone involved with I.T. Works. When it came time to explore acquisition partners, The Planet Group was a clear choice because of our aligned visions and cultures. Our partnership will benefit our team, clients, and candidates immensely and allow us to reach even greater heights as we accelerate toward our goal of being the company of choice for the supply of niche IT business systems experts.”
Widely known in the industry as a firm of excellence, I.T. Works Recruitment has won several prestigious awards, including the National Association for Business Resources’ Best and Brightest Companies to Work For, ClearlyRated’s Best of Staffing for Talent and Clients, and the Atlanta Business Chronicle’s Best Place to Work. They have also been recognized as the second Fastest Growing Staffing Firm in the U.S. by Staffing Industry Analysts, as an Inc. 5000 Fastest Growing Privately Held Company, and as one of the Financial Times’ Fastest Growing Companies in the Americas.
“We are excited to join forces with I.T. Works Recruitment,” said Stomberg. “Their niche ERP service offerings are a natural complement to the Enterprise practice of our Planet Technology staffing company. We look forward to collaborating with I.T. Works Recruitment to further develop their EMR, ERP, and HCM markets and bring enhanced services to all our clients across the Planet platform.”
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.
Neal England at Oaklins Member Firm Capital Alliance served as the exclusive financial adviser to IT Works Recruitment.
ABOUT THE PLANET GROUP
The Planet Group consists of nine related entities, including five renowned staffing brands, and has been purposefully built to address the professional services needs of leading companies in the Accounting & Finance, Technology, Life Sciences, Human Resources, Diversified Energy & Engineering, and Healthcare areas. The company was founded in 2009 and is headquartered in Chicago, Illinois, with offices throughout the US and Europe.
ABOUT I.T. WORKS RECRUITMENT, INC.
Headquartered in Atlanta, Georgia, I.T. Works Recruitment, Inc. is an industry-leading niche recruitment firm that places expert technology candidates in contract and permanent positions nationwide. The company specializes in sourcing and recruiting hard-to-find information technology (IT) professionals to place into dynamic Tier 2 enterprise software providers and corporate end-users requiring implementations, upgrades, and integrations. Dominant markets include enterprise resource planning (ERP), human capital management (HCM), and healthcare electronic medical records (EMR) applications. Learn more at https://www.itworksrec.com.
ABOUT MIDOCEAN PARTNERS
MidOcean Partners is a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has targeted investments in high-quality middle-market companies in the consumer and business services sectors. MidOcean Credit Partners was launched in 2009 and manages a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts. Learn more at https://www.midoceanpartners.com.
MEDIA CONTACTS
The Planet Group
Elizabeth Spayne, VP of Marketing
781.530.3191 | espayne@theplanetgroup.com
I.T. Works Recruitment, Inc.
Gary Dytor, Founder and CEO
678.291.0081 | gary.dytor@itworksrec.com
MidOcean Investor Relations
Leslie Tanca
investorrelations@midoceanpartners.com
MidOcean Media Contacts
Nathaniel Garnick / Grace Cartwright
Gasthalter & Co.
212.257.4170