CHICAGO, Aug. 28, 2024 /PRNewswire/ -- The Planet Group ("Planet"), a portfolio company of Odyssey Investment Partners Fund VI, LP, and a leading provider of outsourced human capital, advisory and consulting services for the Technology, Digital Marketing, Engineering and Professional Services sectors, announced today that it has reached a definitive agreement to sell PFES to Qualus Corporation ("Qualus").
One of the Top 50 Program Management firms in the US, PFES is a specialized and differentiated provider of Program Management and Strategic Advisory services to the Power and Utility industries. The company was launched by The Planet Group in 2012 to offer comprehensive advisory and consulting services as well as functional outsourcing solutions in the areas of Power Delivery, Power Generation, Natural Gas, and Renewable Energy.
"This transaction allows The Planet Group to sharpen the focus of our portfolio and become an even bigger force in outsourced human capital for the technology and digital transformation, engineering, marketing, and professional services consulting and staffing areas," said Tim Simmerly, President of The Planet Group. "PFES has emerged as an industry leader with dedicated, customer-focused teams, and we are confident that this strategic move will benefit PFES and its employees while reinforcing Planet's vision for growth and excellence in our sectors. We look forward to watching their continued growth with Qualus."
"I am incredibly proud of what we've accomplished at PFES, and we thank The Planet Group for its leadership and support over the past decade," said Bob Fanelli, Senior Vice President of PFES. "This marks an exciting new chapter in PFES' journey. By joining forces with Qualus, we're aligning with an organization that will support our continued innovation and excellence in the energy and utility sector."
Completion of the sale is subject to customary closing conditions, including required regulatory clearance and PFES' organizational separation from The Planet Group.
Houlihan Lokey served as the primary financial advisor to Planet on the transaction, with AEC Advisors acting as co-advisor. EFCG served as the financial advisor to Qualus on the transaction.
ABOUT THE PLANET GROUP
The Planet Group, a portfolio company of Odyssey Investment Partners Fund VI, LP, consists of a group of related global consulting organizations and renowned staffing brands and has been purposefully built to address the professional services needs of leading companies in the areas of Technology and Digital Transformation, Engineering, Marketing, and Professional Services. Named one of America's fastest-growing private companies, the company was founded in 2009 and is headquartered in Chicago, Illinois with offices throughout the US, Europe, India and LATAM. Learn more at theplanetgroup.com.
ABOUT ODYSSEY INVESTMENT PARTNERS
Odyssey Investment Partners is a leading private equity investment firm with more than a 25-year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified businesses with strong growth profiles. Odyssey makes majority-controlled investments in industries with a long-term positive outlook and favorable secular trends. For further information about Odyssey, please visit odysseyinvestment.com.
Media Contact:
The Planet Group
Elizabeth Spayne, VP of Marketing
781.530.3191 | [email protected]
SOURCE The Planet Group