Intel, News – Olympus Partners Exits Soliant Health in $2.5 Billion Sale to Vistria Group
Key Highlights
- Olympus Partners sold Soliant Health to The Vistria Group for $2.5 billion, marking a significant exit after acquiring the company from Adecco in 2020 for $612 million.
- Soliant Health, an Atlanta-based education and healthcare staffing company, experienced substantial growth under Olympus Partners’ ownership, with its workforce expanding from 3,500 to 14,000 employees.
- The company’s adjusted earnings increased more than fivefold during this period, and Olympus Partners earned approximately $300 million in dividends from Soliant Health’s profits.
Soliant Health’s Remarkable Growth Trajectory
Soliant Health, a prominent player in the education and healthcare staffing sector, underwent a remarkable transformation during Olympus Partners’ ownership. Originally acquired from the Swiss HR services firm Adecco in January 2020, Soliant Health capitalized on the increased demand for its staffing services, particularly during the Covid-19 pandemic.
To meet this surge in demand, the company scaled its internal operations significantly. Its sales team grew from 375 to approximately 1,200 people, enabling Soliant Health to expand its workforce from around 3,500 outsourced service providers to approximately 14,000 employees today. This expansion included a diverse range of professionals, such as speech pathologists, school psychologists, nurses, and occupational therapists.
Olympus Partners’ Strategic Investment Approach
Olympus Partners, a Connecticut-based private equity firm, has demonstrated a robust investment strategy and portfolio management approach. The firm currently manages a portfolio of 13 companies and oversees funds totaling more than $10 billion, primarily on behalf of corporate pension funds, endowment funds, and state-sponsored retirement programs.
This strategic focus has enabled Olympus Partners to make strategic exits like the Soliant Health sale while continuing to manage a diversified portfolio. The firm’s expertise in identifying and nurturing growth opportunities has been instrumental in Soliant Health’s success, as evidenced by the company’s impressive financial performance during Olympus Partners’ ownership.
Industry Trends and Competitive Landscape
The sale of Soliant Health to The Vistria Group highlights broader trends in the education and healthcare staffing markets. Increased demand for specialized professionals during the pandemic has driven growth in these sectors, leading to a wave of consolidation and digital transformation.
Comparable transactions, such as AMN Healthcare’s acquisition of Live Mari and Cross Country Healthcare’s expansion strategies, underscore the strategic importance of digital offerings and workforce expansion in the healthcare staffing industry. Companies that have successfully integrated digital solutions into their operations, like Soliant Health, have gained a substantial competitive advantage in this rapidly evolving market.
Intel, News – Conclusion and Future Outlook
The sale of Soliant Health for $2.5 billion underscores the strategic significance of the private equity industry in
