PE-backed Addison Group acquires DLC Group, Gryphon exits
Addison Group, which is backed by Odyssey Investment Partners, has acquired Los Angeles-based DLC Group, a finance and accounting consulting and staffing firm. No financial terms were disclosed. As a result of this deal, Gryphon Investorshas exited DLC Group.
CHICAGO – January 30, 2019 – Addison Group, a leading professional services firm, announced today the acquisition of DLC Group, a Los Angeles-based finance and accounting consulting and staffing firm specializing in interim and project-based finance and accounting solutions.
The acquisition complements Addison Group’s existing finance and accounting consulting and staffing business in the Bay Area and Chicago and presents a substantial opportunity within DLC Group’s primary market of Los Angeles and Southern California, establishing Addison Group as a significant player within the California market. The move is aligned with Addison Group’s strategy to broaden its national service offerings through organic growth and the acquisition of growing, high-margin, specialized firms with strong client relationships and a complementary business approach.
DLC’s geographic footprint and niche finance and accounting specialty will allow Addison Group to strengthen its capabilities within both the finance and accounting staffing sector, as well as the consulting space via Addison Group’s existing partnership with Bridgepoint Consulting. The combined service offering solidifies Addison Group’s status as a leader in the human capital market.
“Addison Group’s partnership with DLC aligns with our focus on geographic expansion within our finance and accounting consulting business as well as our staffing practice,” said Thomas Moran, CEO of Addison Group. “This partnership will promote the continued integration of these services within the finance and accounting space, allowing us to provide the highest level of service throughout the client lifecycle. Beyond the opportunity for geographic expansion and revenue growth, we were attracted to DLC Group’s business values. DLC Group understands people are its greatest asset, and like Addison Group, is committed to attracting, developing, and retaining the best talent.”
“Partnering with a firm with such proven success in the market creates a clear opportunity for our employee base,” said Tom Sweeney, CEO of DLC Group. “Addison Group’s complementary business portfolio and corporate culture were attractive to the DLC Group brands, and I am incredibly confident that our combined leadership teams will continue to build upon our successes through a shared vision and core values.”
The acquisition marks the end of DLC Group’s partnership with Gryphon Investors, a San Francisco-based middle-market private equity firm.
To learn more about Addison Group, visit http://www.addisongroup.com/.
About Addison Group
A leading professional services firm, Addison Group delivers the talent and knowledge companies need to achieve and sustain business growth. Addison Group offers a full suite of consulting solutions, staffing and recruiting capabilities, and executive search services – specializing across multiple sectors, including information technology, finance and accounting, healthcare, human resources, and administration.
With a growing network of companies, dozens of offices across the United States and deep relationships in regional and local markets, Addison Group provides industry-leading expertise with a national reach and a localized touch.
Since Addison’s first full year of operations the company has grown significantly and been recognized for its best-in-class service. Based solely on client and candidate feedback, Addison has made the Inavero’s Best of Staffing List for the past eight years. Addison Group was also named to Forbes’ Best Professional Recruiting Firms in 2017 and 2018, a list compiled through Forbes’ independent search in conjunction with analytics firm Statista.
About DLC Group
The DLC Group is a leading finance and accounting consulting firm with a diverse service offering and clients ranging from start-ups to Fortune 1000 companies. They are the preeminent provider of finance and accounting solutions in the markets they serve. Named one of the Fastest Growing Private Companies in Los Angeles (2015) by the Los Angeles Business Journal, the company is headquartered in Woodland Hills, California and has offices in Los Angeles, Orange County, San Francisco, and Chicago.