Private equity firm Avedon Capital Partners has sold its stake in employment agency Olympia to Morgan Stanley.
Olympia is an employment agency that focuses on operational professions in six segments: logistics, production, contact centres, municipal authorities, technology and administration. It provides training and mentoring to help people find permanent and temporary work and has 130 branches and 700 employees.
Morgan Stanley Tactical Value Investing will support Olympia in its next phase of growth and further roll-out of its strategy. Dimitri Yocarini will remain CEO of Olympia and has increased his ownership to a majority stake in the business.
He said: “I look forward to working with Morgan Stanley Tactical Value Investing on the next stage of the journey. They will help us realize our ambition to guide employees and employers in a rapidly changing labour market.”
Gerritjan Eggenkamp, Partner at Avedon Capital Partners, added: “I am proud of the transition that we have achieved together. The strategic choice to focus on six segments of the market through a dual model, the significant investments in digitalisation and the recruitment and development of talent, has translated into impressive growth for Olympia.”