ProPharma Group, a portfolio company of Odyssey Investment Partners, a global provider of outsourced regulatory, compliance, pharmacovigilance, and medical information services for pharmaceutical, biotechnology, and medical device companies. ProPharma purchased Planet from MidOcean Partners, a middle-market private equity firm focused on the business services and consumer sectors.
The Planet Group is a global provider of specialized consulting services and outsourced human capital solutions to the life sciences, energy, engineering and technology sectors.
“This merger rapidly extends our size, scale and growth momentum,” said Dawn Sherman, ProPharma Group’s CEO. “Our newly combined company, which will now have over 1900 colleagues around the world, brings even more depth and breadth to the services we provide our clients and the patients we support.”
“This is a great day for the entire Planet Group family,” said Michael Stomberg, CEO of The Planet Group. “The complementary nature of this merger creates a dynamic platform with a truly global footprint and a complete line of service offerings to meet all of our clients’ needs. We are looking forward to the next phase of growth and our continued commitment to quality and excellence in everything we do.”
Odyssey continues as the combined company’s investment partner for strategic growth.
Tug Fisher, principal of Odyssey Investment Partners, commented, “This is a powerful combination of two highly complementary businesses, creating an opportunity to enhance growth prospects across their collective service offerings. We are confident this merger will solidify the combined company’s reputation as a value-added partner to its clients. Odyssey is excited to continue supporting management in building a unique business poised for rapid growth.”
William Blair & Co., Houlihan Lokey Capital Inc. and FocalPoint Partners LLC acted as financial advisors and Gibson, Dunn & Crutcher LLP and Clark Hill PLC acted as legal advisors to The Planet Group and MidOcean Partners. Latham & Watkins LLP acted as legal advisor to Odyssey Investment Partners. Barack Ferrazzano Kirschbaum & Nagelberg LLP acted as legal advisor to The Planet Group management.