Soliant Health sold to Vistria Group for $2.5Bn
GEORGIA, UNITED STATES — Private equity firm Olympus Partners has announced the sale of Soliant Health, a healthcare and education staffing solutions provider, to The Vistria Group.
This transaction marks a shift in ownership for Soliant, which Olympus acquired from the Adecco Group in January 2020 for $612 million.
Vistria’s investment in education and healthcare staffing
The Vistria Group has acquired Soliant for roughly $2.5 billion, the Financial Times reported.
The middle-market private investment firm will now support Soliant in enhancing its market-leading position in the K-12 space and further growth initiatives.
“Soliant’s strong market position and proven track record of delivering high-quality workforce solutions make it an ideal partner for us,” said Philip Alphonse, Senior Partner at The Vistria Group.
“We look forward to supporting Soliant’s continued growth and expansion as it meets the increasing demand for skilled providers across school districts and healthcare facilities.”
Soliant is the 14th company in The Vistria Group’s Knowledge & Learning Solutions portfolio.
David Alexander, Founder and CEO of Soliant, described the new partnership as “the beginning of an exciting chapter.”
“With their strategic support and industry expertise, we are well-positioned to capitalize on new growth opportunities and further elevate our service offerings to benefit the communities we serve,” said Alexander.
“We are pleased to build upon our strong history and continue to meet the needs of students and patients with our strong team of specialized professionals.”
Founded in 1992, Soliant connects professionals such as speech pathologists, school psychologists, nurses, therapists, and teachers with hospitals and schools across all 50 states.
It operates offices in major cities including Atlanta, Tampa, Jacksonville, Houston, San Diego, and Greenville.
Soliant’s growth under Olympus ownership
During Olympus’ ownership, Soliant expanded its sales and recruiting team by over 700 people. It has also increased EBITDA by more than five times.
“David Alexander and the entire Soliant management team have done an exemplary job; the success of this investment was made possible by their extraordinary focus and commitment to excellence,” said Jason Miller, partner at Olympus.
“We exit this partnership knowing that the company is well positioned to continue to thrive and we look forward to following its progress.”
