By Chelsey Dulaney
A Morgan Stanley private-equity fund said Monday it has agreed
to sell its majority stake in staffing firm Creative Circle to On
Assignment Inc. for $570 million.
Morgan Stanley Global Private Equity first bought its stake in
Creative Circle in September 2012 in a deal that valued the company
at $230 million.
Creative Circle specializes in professional staffing for
advertising, creative and marketing industries. The company had
$226 million in revenue in 2014.
On Assignment, a professional staffing company, said the deal
will broaden its staffing services and is expected to be
immediately accretive to its per-share earnings.
The deal also includes up to an additional $30 million in
contingent payments if certain financial targets are met this
year.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
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