Barack Ferrazzano acted as legal counsel to The Planet Group (“Planet”) in connection with MidOcean Partners’ (“MidOcean”) significant investment in their company. MidOcean is a premier middle market private equity firm and their investment will drive continued growth within Planet, accelerating Planet’s strategic initiatives. The financial terms of this transaction were not disclosed.
Planet was founded in 2009 and in recent years has expanded from niche consulting to the life sciences and engineering markets to include the healthcare and digital marketing industries. Planet provides human capital for highly skilled positions in pharmaceutical, biotechnology and medical device companies and offers consulting services regarding performance improvement, facility optimization and operational project management.
The founders of Planet, CEO Michael Stomberg and CFO Timothy Bauwens, will continue to lead the company. Both Stomberg and Bauwens are industry veterans and MidOcean’s investment is in partnership with the existing management team with both founders retaining a stake in the company.
Barack Ferrazzano's team was led by Daniel L. Dominguez and Jeffrey J. Koh. Tax and business planning were handled by Michael J. Towne and Alice Lin. Executive compensation and benefits were handled by Andrew K. Strimaitis.
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The Planet Group
The Planet Group is a diversified professional services organization focused on providing high-value outsourced human capital solutions and niche consulting services to Fortune 500 and other leading clients in the fastest growing and most in-demand sectors. The Planet Group consists of six related entities and has been purposefully built to address the professional services needs of leading companies in the life sciences, diversified energy & engineering, healthcare and digital marketing industries. The Company was founded in 2009 and is headquartered in Chicago, Illinois.
About Barack Ferrazzano Corporate and Securities
Barack Ferrazzano's Corporate & Securities Group represents public and privately held domestic and international companies, as well as investors and boards of directors, in a wide range of corporate and securities law matters. Our broad experience includes mergers, acquisitions and sales of businesses, domestic and international joint ventures, public and private securities offerings and underwritings, SEC filings and compliance matters, corporate governance and stockholder issues, takeover and anti-takeover counseling, leveraged buyouts, private equity, venture capital and corporate finance.