Morgan Stanley Tactical Value Investing and management have invested in Olympia


Amsterdam & New York – Corporate Finance International (“CFI”) is delighted to announce that it acted as the corporate finance advisor to Morgan Stanley Tactical Value Investing, a team within Morgan Stanley Investment Management in its transaction with Olympia Nederland (“Olympia”). In Morgan Stanley Tactical Value Investing, Olympia has found a new investor that supports its ambitions and its strategy. Dimitri Yocarini will remain CEO and will together with the unchanged senior management team take a majority interest alongside investment funds managed by Morgan Stanley Tactical Value Investing. Avedon Capital Partners, which has been shareholder in Olympia since 2016, has exited in this transaction.

Founded in 1969, Olympia is the 6th largest temporary employment agency in the Netherlands, with well over €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. Olympia will continue to build a data-driven, digital business together with Morgan Stanley Tactical Value Investing over the coming years.

Mr Dimitri Yocarini (CEO of Olympia): “I look forward to our co-operation with Morgan Stanley Tactical Value Investing. They will help us realise our ambition to guide employers and employees in a rapidly changing labour market. We help people looking for work to discover and contribute their unique added value. In this manner, we are consistently able to offer solutions to the constantly changing demand for the right people. With Morgan Stanley Tactical Value Investing as our investor, we are ready for the future.”

Mr Frederik J. Wijsenbeek (Executive Director at Morgan Stanley Tactical Value Investing): “Olympia is a differentiated business. Their entrepreneurial culture combined with their employee-centric model is what has made them a leader in their market. This is demonstrated by the fact that they continue to outperform in their chosen market segments. Following a multi-year strategic dialogue with CFI on the European staffing market, we asked CFI to help us assess the attractiveness of an investment in Olympia. In addition to their in-depth fundamental market insights and their experience in the staffing industry, CFI enabled access to relevant c-suite level industry experts to help form our view on the Dutch market. We thank CFI for their support throughout as well as for their commitment, integrity and their passion to get the deal done.”

Morgan Stanley Tactical Value Investing, a team within Morgan Stanley Investment Management, is focused on providing nimble, opportunistic capital with the flexibility to invest across asset classes, sectors and geographies in changing market environments. Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 699 investment professionals around the world and $507 billion in assets under management or supervision as of September 30, 2019. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.

With more than 20 years of in-depth sector knowledge and market intelligence, CFI assisted Morgan Stanley Tactical Value Investing as its corporate finance advisor, with the valuation, negotiations and due diligence of Olympia, that ultimately resulted in a successful transaction closed on 12 November 2019.

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