Morgan Stanley Tactical Value Investing completed the buyback of Olympia, a Netherlands-based employment agency, together with the firm's management from Avedon Capital. Financial terms were not disclosed. The deal came partly as a result of internal conflict within Olympia over franchising fees charged by NIBC. Avedon's capital injection was meant to allow for a change of the franchising structure, where franchisees would be offered a small stake in the parent organisation, and fees that were seen as excessive would be scrapped.