December 16, 2021
Expense funds managed by Morgan Stanley Money Companions announced the sale of marketing and advertising/imaginative staffing company 24 Seven LLC to a single asset basic spouse-led continuation investment decision vehicle managed by an affiliate of MSCP. The continuation fund is led by Glendower Capital with participation from other secondary traders such as Pantheon.
Headquartered in New York City, 24 Seven ranks third on SIA’s record of most significant marketing and advertising innovative staffing companies in the US with $165 million in 2020 US internet marketing/building short-term staffing profits. Celeste Gudas, who this year transitioned from CEO to board chairman, founded the organization in 2000 it now has 14 offices all over the world.
24 7 was MSCP’s fourth investment decision in the human capital administration place, which is a main sub-sector within just MSCP’s broader small business products and services effort. Considering that MSCP invested in the enterprise in 2016, 24 Seven’s EBITA has far more than tripled.
“Morgan Stanley has supplied outstanding partnership over the previous 5 yrs, aiding us travel the enterprise and ascend into an marketplace major company,” said Anthony Donnarumma, who turned CEO early this year. “MSCP has been a great companion to the total 24 Seven crew, leveraging their deep human cash administration skills to continually aid our organic and natural progress aspirations, operational initiatives, and create our M&A capabilities.”