Zurich, Switzerland – September 14, 2017 – The Adecco Group, the world’s leading provider of workforce solutions, today announced the acquisition of BioBridges, a Career Portfolio® Management company providing integrated services to the life sciences community. The transaction strengthens the Adecco Group’s professional solutions footprint and establishes a US platform to enhance the company’s global life sciences presence.
Founded in 2005 and headquartered outside Boston, BioBridges is widely respected in the life sciences arena, managing the careers of highly skilled professionals who have extensive experience in the biotech, pharmaceutical and medical device industries. Servicing both emerging and established organizations, BioBridges acts as an integrated extension of its clients’ programmes, committed to accomplishing the work in a scalable and flexible manner that is specific to a programme’s goals and objectives. BioBridges’ revenues are expected to be approximately USD 35 million in 2017.
“With its excellent reputation and proven results, BioBridges is deep-rooted in the life sciences space,” said David Alexander, president of the Adecco Group’s North America Finance, Office and Healthcare businesses. “We are excited to welcome BioBridges into the Adecco Group family. Together we will offer highly specialized workforce solutions to an industry that truly has the potential to change the world.”
BioBridges will be brought under Alexander’s leadership of the Adecco Group’s North America Finance, Office and Healthcare brands. Jason Falchuk, founding partner and president of BioBridges, will remain in his current role following the acquisition. Jeff Souza, currently CEO of BioBridges, will take on the new role of Senior Vice President of Client Services. Cindy Steinberg, founding partner, will continue as a consultant to the company through the transition. BioBridges will maintain its established branding and headquarters location.
“There’s a very clear and growing demand for experienced professionals in the life sciences community, and likewise, an increased movement for professionals to define a career focused on accomplishing the work they are passionate about,” said Falchuk. “As a part of the Adecco Group, BioBridges will have access to global resources that will allow us to innovate and progress alongside the exceptional businesses and professionals that inspire us to come to work every day.”
Fairmount Partners acted as exclusive financial advisor to BioBridges in the sale to Adecco.
Terms of the transaction have not been disclosed.
Founded by industry veterans, BioBridges helps exceptional life sciences professionals pursue the work that inspires them. Our scalable Career Portfolio® Management model allows highly skilled professionals to focus on the work they are passionate about while collaborating with our clients to advance science and produce therapies for patients who need them.
About Adecco Group
The Adecco Group, based near Zurich, Switzerland, is the largest staffing firm in the world, and a Fortune Global 500 company. The Adecco Group North America, based in Jacksonville, Florida, provides professional recruiting, staffing, consulting and business services to various industries in the United States, Canada, the United Kingdom, Europe, Australia and Asia. Adecco Group North America operates in two divisions: professional services and information technology (IT) Services. The professional services division provides staffing and recruitment services in the disciplines of accounting and finance, law, engineering, property and health care.
About Fairmount Partners
Based in Philadelphia, Fairmount Partners is the leading investment bank worldwide for pharmaceutical, device and related services businesses. Fairmount provides merger and acquisitions advisory services, and assists companies to raise funding for acquisitions, growth and liquidity. Fairmount’s Pharmaceutical Services Group has assisted clients to complete over 120 transactions in 18 countries in North and South America, Europe, Asia and Australia.
Principals of Fairmount Partners acted as advisors to BioBridges in this transaction.
Neal McCarthy and Andrew Brown
Further information is available at www.fairmountpartners.com