FOR IMMEDIATE RELEASE
Richmond, VA – Transact Capital Partners is pleased to announce that R121, a San Diego-based international IT consulting firm has been acquired by The Planet Group (“Planet”) of Chicago, a leading provider of outsourced human capital and consulting solutions.
Established in 2003, R121 is an internationally recognized IT consulting services firm. In 2015, the management team implemented organizational changes which have enabled the company to achieve significant growth. Over the years, R121 has solidified its reputation as a flexible, reliable, and professional business partner to some of the most recognized corporations throughout the United States.
R121 will continue to be led by Chris Holcroft, Founder and CEO, an industry veteran with a strong history of building successful businesses. Holcroft commented, “We are beyond excited. The opportunity to partner with Planet and its outstanding leadership team, who value their customers as much as we do, was too good to miss. Michael, myself, and our leadership teams recognize that combining the organizations will allow us to unlock enormous opportunities for our respective customers.”
Mike Stomberg, CEO of Planet said that the acquisition is a significant milestone in Planet’s strategic initiative to diversify it’s portfolio of service offerings and drive continued growth. Stomberg added, “R121 is a dynamic partner for Planet. Chris and his team bring a breadth of experience and depth of knowledge that will both complement and expand our global footprint. Both organizations are driven by a passion for leadership and a commitment to building a world class organization.”
Transact Capital Partners, LLC acted as the exclusive advisor to R121; Patrick Morin and Jim Sowers lead Transact’s Staffing M&A team. Said Morin, “This is an exceptional deal for both companies as the operational, cultural and market-related synergies between Planet and R121 were readily apparent and achievable, allowing us to drive the deal to a very quick and successful closing.”
About Transact Capital
Transact Capital Partners is a full-service mergers and acquisitions advisory firm headquartered in Richmond, VA, with offices throughout the Southeast. Investment banking services and security transactions are offered through Transact Capital Securities, LLC. Member FINRA and SIPC.
To learn more about this transaction, or Transact Capital Partners, please contact Steve Zacharias at 804-612-7102 (Steve@TransactCapital.com). Additional information about Transact Capital Partners can be found at www.TransactCapital.com.