Private equity firm Trilantic Capital Partners will acquire the Chicago-based professional staffing firm Addison Group from Lake Capital Partners, a private equity firm also based in Chicago. Addison will be the first staffing firm in Trilantic's portfolio; Addison management will continue to own a portion of the company.

The transaction is estimated to close Oct. 11 and financial terms were not disclosed. No management changes are planned.

“We look forward to Trilantic’s strategic and financial support as we continue to execute on our growth strategy, which includes expanding nationally through both organic initiatives and executing tuck-in acquisitions,” said Addison CEO Thomas Moran.

Trilantic is a global private equity firm focused on control and significant minority investments in North America and Europe. It primarily target investments in the consumer, energy, industrials, TMT, healthcare, financial and business services sectors. It currently manages four institutional private equity funds with aggregate capital commitments of $5.8 billion.