Morgan Stanley Tactical Value Investing has agreed to acquire a minority stake in Netherlands-based staffing agency Olympia. Founded in 1969, Olympia is the 6th largest temporary employment agency in the Netherlands, with well over EUR 400 million in revenues. It offers a wide range of personnel services and focuses on blue collar workers in six segments: logistics, production, contact centres, municipalities, technology and administration. With Morgan Stanley Tactical Value Investing on board, Olympia has found a new investor that supports its further growth and roll-out of its strategy. Dimitri Yocarini will remain CEO and will together with the unchanged senior management team take a majority interest alongside investments funds managed by Morgan Stanley. Morgan Stanley acquires the minority stake from Avedon Capital for an undisclosed sum.
Nielen Schuman acts as financial advisor to Morgan Stanley Tactical Value Investing. Click here for the full press release
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