KRG Capital Partners Completes Sale of Olson to ICF International
DENVER, CO (November 5, 2014) – KRG Capital Partners (KRG), a Denver-based buyout firm, completed its sale of Olson, a Minneapolis-based integrated marketing technology and digital solutions provider, to ICF International, a leading provider of consulting services and technology solutions to government and commercial clients.
KRG acquired Olson in October 2009, and the sale represents the third successful full exit in KRG’s $1.96 billion Fund IV.
KRG partnered with Olson management to develop and execute a strategic plan designed to capitalize on the rapidly evolving marketing communications marketplace and increasing client demands for digital and data-driven marketing solutions. Consistent with KRG’s “buy and build” growth model in the middle market, the Olson strategy was focused on organic growth driven by expanding Olson’s suite of digital and data-driven services to existing and new clients, complemented by the addition of new capabilities through strategic acquisitions. Following KRG’s initial investment, Olson completed and successfully integrated five add-on acquisitions that contributed to the company more than tripling in size during KRG’s investment period.
“The Olson management team led by CEO John Partilla did a masterful job of building Olson into one of the three largest independent digital agencies in North America” said Bruce Rogers, Managing Director and Co-Founder of KRG. “We were fortunate to be their partners over the past five years and wish them well as they embark on a new chapter of growth with ICF.”
John Partilla, CEO of Olson, commented “KRG has been an ideal partner to Olson; their business instincts across the digital marketing services landscape have been superb, and their strategic partnership in supporting Olson’s growth over the last five years has been invaluable.”
AdMedia Partners and Jefferies acted as advisors to Olson in connection with the transaction, and Hogan Lovells provided legal counsel.
About Olson: Olson is an integrated, next-generation agency with digital at its core, focused on driving rich engagement for many of the world’s leading brands. One of the top five independent, full-service agencies in North America, Olson’s 545 person-strong agency is dedicated to “Revolutionizing Engagement” by combining insights, creativity and technology. Olson is headquartered in Minneapolis with offices in Chicago, Austin, Toronto, Los Angeles, New York and San Francisco. More information on Olson is available at www.olson.com.
About KRG: Founded in 1996, KRG is a Denver-based private equity firm with $4.3 billion of capital either deployed or available for future investment, which includes approximately $1 billion deployed since inception on behalf of equity co-investors. KRG specializes in acquiring majority interests in middle-market companies and growing them into significantly larger enterprises through the combination of internal growth and selective strategic add-on acquisitions. KRG Capital seeks investment opportunities where we can partner with existing management teams that are committed to building best-in-class industry leading companies. Since inception, KRG has invested in 46 platform companies and has completed 161 add-on acquisitions for those platforms. More information on KRG is available at www.krgcapital.com.