(Crain's) — Madison Dearborn Partners LLC purchased a majority stake in Fieldglass Inc., which sells software to manage contract labor services. The Chicago-based private-equity firm and Fieldglass, also based in Chicago, declined to specify the size of the investment or stake.
Fieldglass founder and CEO Jai Shekhawat said in a news release that he and the company’s management team will retain a “significant” minority stake. He added in an interview that Madison Dearborn invested more than $200 million, and Fieldglass is now valued at more than $220 million.
