Morgan Stanley Exits Creative Circle in $600M Deal
May 12, 2015
Morgan Stanley Global Private Equity (MSPE) has announced the sale of its majority stake in Creative Circle to On Assignment (NYSE: ASGN) for $570 million and up to $30 million in contingent consideration. Creative Circle is a professional staffing firm specializing in advertising, creative and marketing talent. MSPE had initially backed the company in 2012 in a deal that valued it at $230 million. Wells Fargo Securities served as financial advisor to MSPE in connection with the transaction, while Debevoise & Plimpton acted as legal advisor.