What We're Reading

ON ASSIGNMENT ACQUIRES ECS FEDERAL

On Assignment, Inc. (NYSE: ASGN), one of the foremost providers of IT and professional services in the technology, creative/digital, engineering and life sciences sectors, announced that it has signed a definitive agreement on January 31st to acquire ECS Federal, LLC (ECS) from Roy Kapani, the company’s majority owner and founder, and Lindsay Goldberg, a private investment firm, for $775 million in cash.

ECS, one of the largest privately-held government services contractors, delivers cyber security, cloud, DevOps, IT modernization and advanced science and engineering solutions to government enterprises. Combined, On Assignment and ECS will be one of the largest and fastest growing IT and professional services firms in North America.
Read more about it here.

MIDOCEAN PARTNERS ANNOUNCES INVESTMENT IN THE PLANET GROUP

MidOcean Partners announced on January 22nd that it has made a significant investment in The Planet Group, a leading provider of outsourced human capital and consulting services. MidOcean’s investment will be used to accelerate the Company’s strategic initiatives and drive continued growth. Financial terms of the transaction were not disclosed.

Planet will continue to be led by founders Michael Stomberg, CEO, and Timothy Bauwens, CFO. Both Mike and Tim are industry veterans with a strong history of building successful businesses together. MidOcean’s investment is in partnership with the existing management team and both founders are retaining a significant stake in the Company.
Read more about it here.

AUDAX PRIVATE EQUITY BUYS CORSEARCH

Corsearch, a global trademark solutions leader, announced the closing of its sale to Audax Private Equity on January 5th. As previously reported, in October 2017, Audax Private Equity agreed to purchase Corsearch from Wolters Kluwer. Financial terms of the transaction were not disclosed.

Corsearch provides trademark and domain management services to corporate legal departments and law firms through their brand establishment, brand protection, and domain management business lines.
Read about it here.

THREE BRIDGE SOLUTIONS RECAPITALIZED BY RFE INVESTMENT PARTNERS

RFE Investment Partners (“RFE”) announced on January 4th that it has completed a recapitalization of ThreeBridge Solutions, LLC (“ThreeBridge” or the “Company”), through which it has acquired a majority ownership interest in the Company. The Company’s founders, CEO Jim Kelly and President Jason Elder, will continue to lead ThreeBridge, and will retain a significant ownership stake in the Company.

ThreeBridge provides value-added information technology and business consulting services for a diverse set of Fortune 500 and Fortune 1000 clients in the Midwest. The Company offers solutions in the areas of ERP Integration, Agile Enterprise, Business Transformation, Program Management, Project Delivery, and innovative junior consultant development through its Boom Lab program.
Read about it here.

Equity Trading Overview

Key Trading Statistics 1,2*

*As of February 7, 2018

Public Company Sector Performance 1,2

Economic Trends

A Snapshot of Key Economic Indicators



M&A Market Trends

Select Recent M&A Transactions 1

Date Target Business Description Acquirer
2/1/2018 Mingerink & Associates, Inc. Mingerink & Associates, Inc. provides sales and marketing advisory services. The frim offers multi-category selling, sales solution, distribution tools and 
top retail placement.
CI Capital 
Partners; Impact Sales LLC
1/31/2018 Mark/Ryan Associates Ltd. Mark/Ryan Associates Ltd. provides permanent and temporary staffing services. It offers placement for finance, accounting and office support secretors. The firm provides staffing services in the Chicago land area.  The Reserves 
Network, Inc.
1/23/2018 Benefits Network Insurance Agency, Inc. Benefits Network Insurance Agency, Inc. engages in providing insurance agency services. It offers employer and broker services.  Risk Strategies 
Insurance Brokerage Service
1/17/2018 Motus LLC (Massachusetts) Motus LLC provides employee mobility consulting services. Its solutions include mileage reimbursement, fleet management, mileage tracking and business intelligence. Thoma Bravo
1/10/2018 CBIG Consulting LLC CBIG Consulting LLC provides business intelligence and big data analytics consulting solutions. It offers strategy, planning, data, and outsourcing. Trianz, Inc.
12/13/2017 Zenith American Solutions, Inc. Zenith American Solutions, Inc. provides administrative and management consulting services. It offers banking, vendors and financial services. Beecken Petty O'Keefe & Company
12/11/2017 SMG Corp.  SMG Corp. provides public facility management services. It provides sports and entertainment booking, convention center services, k'nekt training programs, design and operations, naming rights and sponsorships, suites and premium seating and urban development. Onex Partners

Business Services M&A Volume by Year1*

*As of February 7, 2017; Represents all announced or closed M&A transactions in the U.S. and Canada; No transaction value provided for undisclosed deals

Public Comparables

Public Company Performance1,2





1. Factset
2. Thompson Reuters
3. U.S. Bureau of Economic Analysis
4. The Conference Board
5. U.S. Bureau of Labor Statistics
6. U.S. Department of Labor