Peoplelink, headquartered in South Bend Indiana provides temporary staffing services focused on the light industrial sector. The Company operates through approximately 50 offices across the eastern half of the United States. The Company was founded in 1990 by Bill and Jay Wilkinson who had previous experience as successful entrepreneurs in the industry.
Croup Crit is headquartered in Paris France and has annual revenue of over $2 billion per year. Group Crit is the tenth largest temporary staffing firm in the world and the fourth largest staffing firm in France. Croup Crit continues to grow through acquisitions in other countries and markets and was seeking a strong platform as its first acquisition in the United States.
Challenges
The owners were seeking liquidity but also wanted to continue to manage the business and enjoy upside potential of their growth initiatives.
The U.S. staffing industry had undergone a tremendous downturn resulting from the recession of 2008/2009. Much of the industry had not recovered.
Because of the adverse effect of other mergers in the marketplace, confidentiality among employees, clients, and potential acquirers was paramount.
Results
Legacy was able to negotiate and close a transaction that achieved all of the primary goals of the owners including retention of equity, management control, and autonomy.
Legacy ran a highly confidential process.
Legacy was able to navigate several highly complex legal, tax, and financial issues related to the cross border transaction.
