Olson Sells to Consulting Group for $295M

Minneapolis agency's leadership will remain in place

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Olson, one of the industry’s largest remaining independent agencies in America, has signed a definitive deal to be acquired by ICF International, a Fairfax, Va., provider of consulting services and technology solutions to government and commercial clients.

ICF International said it will purchase Olson for $295 million in cash from private equity firm KRG Capital Partners and other minority shareholders. The deal is scheduled to close by mid-November, subject to regulatory approval and other closing conditions. In making the announcement, ICF said Olson had revenue of $126 million in 2013, and for the first seven months of this year, the Minneapolis agency’s increased at a “double-digit rate” that is expected to continue for the rest of the year.

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