Bowstring advises Mondo on its acquisition by Addison Group
December 21, 2018 | Atlanta, GA
Bowstring Advisors (“Bowstring”), formerly CHILDS Advisory Partners, served as the exclusive financial advisor to Mondo International, LLC (“Mondo”), a New York City-based professional staffing firm specializing in information technology and digital marketing, in its acquisition by Addison Group (“Addison”), a leading professional services firm held by Odyssey Investment Partners. Mondo was previously held by the Los Angeles-based private equity group Riordan, Lewis & Haden (“RLH”).
The acquisition complements Addison Group’s existing information technology business across the U.S., with the addition of a digital marketing vertical, putting Addison at the forefront of the ongoing digital transformation to deliver value to its customers. The transaction is aligned with Addison Group’s strategy to broaden its national service offerings through organic growth and the acquisition of flourishing, high-margin, specialized firms with strong client relationships and a complementary business approach.
Mondo’s geographic footprint and technology focus will allow Addison Group to strengthen its presence in ten locations across the country, while entering two new markets, Atlanta and Los Angeles. This increased market share, coupled with the addition of digital marketing, solidifies the organization’s status as a leader in the human capital market.
“We are thrilled to partner with such a well-established firm and look forward to the opportunity to accelerate our growth strategy,” said Tim Johnson, CEO of Mondo. “Addison Group’s aggressive growth pattern as well as its commitment to the success of its internal employees will certainly lay the groundwork for what will be a successful partnership and create additional opportunities for our employees to grow professionally.”
Chris Lewis, Co-Founder of RLH, commented, “We selected Bowstring Advisors for their industry-specific expertise and deep knowledge of the competitive landscape. That sector focus combined with Bowstring’s responsiveness and leadership in the negotiation process led to a successful outcome for management, Mondo’s founder and RLH.”
Alan Bugler, Managing Director at Bowstring Advisors, added, “Mondo is a high performing asset with a tremendous management team. We are excited to have found them a great partner in Addison as the combined business continues to grow.”
We selected Bowstring Advisors for their industry-specific expertise and deep knowledge of the competitive landscape. That sector focus combined with Bowstring’s responsiveness and leadership in the negotiation process led to a successful outcome for management, Mondo’s founder and RLH.
Riordan, Lewis & Haden