M&A Funders & Advisors Directory

Global

Market Information and Forecasts

Staffing M&A Funders and Advisors

28 July 2021 | Adam Pode, Director of Research (EMEA & APAC) | [email protected] M&A Funders and Advisors Directory | 28 July 2021

Introduction Use this report to identify M&A • This directory provides full records for over 30 companies operating in the M&A space funders and advisors and around the world. Some firms provide services in just one market while others provide understand the nature of their international and cross-border M&A advice and services in up to 40+ countries. They are services listed in alphabetical order, and an index is provided at the rear of this document (page 34). Many of these organisation will • An additional 115+ firms who have been identified as providing M&A services are also be an excellent source of advice shown (pages 39 to 44). We have tried to make this report as exhaustive as possible, but if about how to manage there are additional companies you believe should be listed, or if you would like to financially in these current contribute a “full” entry within this directory, please contact the author, shown below. difficult times. • This report is designed as a standalone document but can also be read in conjunction with our M&A reports which are available to subscribers of Staffing Industry Analysts’ research services. These included our interactive dashboard of staffing and workforce solutions M&A activity, which details more than 1,300 transactions in the sector. • If you are interested in joining our service or require further information, please contact SIA Member Services at [email protected]. In addition, you can subscribe free to our Daily News, which reports deals as and when they happen, by clicking here. • Please note that the information included herein is self-reported and then edited for consistency sake by SIA. We cannot vouch for the accuracy of each record, nor should inclusion in this directory be taken to imply any endorsement of the companies’ services. This copy of the report has been completed in March 2021. • If you have any corrections or changes, please contact Adam Pode at [email protected].

Key Contact David O’Brien Company Description Contact Phone Background in fund management and investment banking. Involved in a +44 7968 147 773 significant number of deals within an investment banking environment. Contact Email Since going solo I offer the following services, including – M&A search [email protected] (bespoke, using an internally generated UK database); Strategic advice, including deal-related; Preparation for IPO (what you don’t hear from Web Address your investment bank!) and Valuation and in combination with a partner, www.aileamconsulting.com sponsored equity research/bespoke marketing reports. Headquarters Manchester, United Kingdom Advised Deal Type Service • Strategic reports for $100m+ revenue generating staffing companies, Angel Accountant in one case leading to disposals and ultimately the acquisition of the business Cross-Border Consultant x • Successful M&A searches, ranging from $5m NFI upwards Domestic x Corporate Finance x ESOP Investor (VC/PE) • Introduction/preparation for the purposes of a fund raise

IPO x Law Firm • Writing equity research on several companies

MNE DCM/ECM • In the process of writing a marketing document for a Company’s re- launch into the US market Recap x M&A Advisory x

SME x Staffing Firm

Regions EMEA Manchester, England

APAC

Americas

Key Contact Bret Schoch Company Description Contact Phone Baird is a global investment bank focused on the middle market. +1 312 609 4965 Approximately 350 investment banking professionals in the U.S., Europe Contact Email and Asia provide corporations, entrepreneurs, private equity and venture [email protected] capital firms with in-depth market knowledge and extensive experience in sell side and buy side M&A, debt advisory and equity financing Web Address transactions. www.bairdglobalinvestmentbanking.com Over the bast three years, Baird has completed over 335 M&A Headquarters transactions, representing more than $107 billion in transaction value, Milwaukee, Wisconsin and nearly 200 financings, raising almost $90 billion. Committed to being a great place to work, Baird ranked No.13 on Fortune’s 100 Best Deal Type Service th Companies to Work For in 2020 – its 17 consecutive year on the list. Angel Accountant

Cross Border X Consultant Advised Domestic Corporate Finance X • People2.0 on its significant investment from TPG Growth ESOP Investor (VC/PE) • Altru’s acquisition by iCIMS IPO X Law Firm • Appcast’s acquisition by StepStone MNE DCM/ECM • Alexander Mann Solutions on its sale to OMERS Recap X M&A Advisory X • ZeroChaos on its sale to Carlyle SME X Staffing Firm

Regions EMEA X London, Frankfurt APAC X Shanghai, Mumbai, Sydney Americas X Atlanta, Boulder, Boston, Chicago, Denver, Houston, Milwaukee, New York, Portland, Silicon Valley, St. Louis, Tampa, Washington, D.C.

Key Contact James Fieldhouse Company Description Contact Phone BDO Corporate Finance is a global provider of M&A services and +44 7854 278 307 Transactions services to a number of industries with specific expertise Contact Email in the human capital and staffing sector. During 2020 BDO completed [email protected] in excess of 1,500 transactions with a total deal value of $83.5bn, making BDO one of the most active advisers globally. BDO’s focus is Web Address on helping entrepreneurially spirited businesses succeed, which in the www.bdo.co.uk staffing sector means working with companies from $10M to $1BN in Headquarters revenue. By having 2,500 Corporate Finance professionals in 100 London, United Kingdom countries BDO can support staffing companies worldwide with a range of services including full M&A sale support to owners, advice on MBOs Deal Type Service and Private Equity investment, debt re-financing and fund raising, Angel Accountant x acquisitions and buy-side support on transactions including due diligence. Cross-Border x Consultant

Domestic x Corporate Finance x Advised ESOP Investor (VC/PE) • Sale of a specialist IT recruitment company IPO x Law Firm • Re-financing of a specialist healthcare recruitment group MNE x DCM/ECM • Management Buy-Out of a professional services recruitment Recap x M&A Advisory company SME x Staffing Firm • Buy-side support in respect of an equity investment into a technology enabled recruitment group Regions • Reporting Accountant to an AIM listed recruitment group EMEA x • Sale of an engineering & infrastructure recruitment company APAC x • Buy-side support in respect of an equity investment into an Executive Search recruitment company Americas x

Key Contact Thomas Kardos | Ronny Grosman Company Description Contact Phone We are a London-based middle-market M&A and Corporate Finance advisory firm. +44 20 3096 6910 While we do not focus on any one industry sector, we continue to develop an Contact Email extensive track-record within Staffing and HR Solutions, having completed [email protected] transactions for major global as well as middle market and SME players. [email protected] As an owner-managed business, our strength is to execute mandates in any Web Address jurisdiction ourselves with the objective to develop long-term relationships with our https://www.blackwoodcapital.com/ clients by offering impartial advice, unencumbered from external influences. Headquarters Through our offices in London and Frankfurt we have strong coverage of the London, United Kingdom European market and regularly advise on transactions outside of Europe, including CIS, USA, Middle-East and China. Deal Type Service Angel Accountant Advised Cross-Border X Consultant • Harvey Nash on the acquisition of Latitude 36, Inc. Domestic X Corporate Finance X • Work Service S.A. on debt restructuring and the public takeover by Gi Group ESOP Investor (VC/PE) • FiveTen Group on the sale of Marks Sattin to Gi Group, on the sale of Antal IPO Law Firm Russia to Antal International and on the sale of E.M.R. to IPE Capital MNE X DCM/ECM • Work Service on the sale of Exact Systems to Management and CVI Recap X M&A Advisory X • Gi Group on the acquisition of Grafton Recruitment SME X Staffing Firm • Atalian on the acquisition of Aetna Integrated Services Regions • Groupe Crit on Sustained Quality’s acquisition of EHD Tech and on the acquisition of Peoplelink EMEA X Offices in London and Frankfurt • Adecco on the sale of its Russian and Ukrainian subsidiaries to Lugera and on APAC X Advised on deals in China, the acquisition of Avanta India, etc. from London • Ajilon on the sale of its planning and engineering unit to Americas X Extensive experience in US Byers Engineering Company cross-border M&A

Key Contact Tim Evans, Founder and Managing Director Company Description Contact Phone +44 207 355 6270 Boxington is a modern, independent, full service corporate finance advisory house, operating nationally and internationally out of London (UK), and Contact Email focused exclusively on advising mid-market companies across the Business [email protected] to Business (B2B) services and technologies space, with particular expertise Web Address and track record in recruitment & staffing and the wider human capital/ talent/ www.boxington.com workforce management sector. Headquarters We are a full-service advisory house, which allows us to support our clients in London, United Kingdom different ways as their corporate finance and mergers & acquisitions (M&A) objectives change over time. Deal Type Service Boxington is authorised and regulated by the Financial Conduct Authority. Angel Accountant Cross-Border x Consultant Advised Domestic x Corporate Finance x • Sonru Ltd (Ireland based automated video interviewing technology) on ESOP Investor (VC/PE) sale to ModernHire.

IPO Law Firm • AppsIT (UK based specialist provider of Oracle consultants) on its MBO, supported by Collective Capital. MNE DCM/ECM • TRG Logistics (UK based logistics recruitment specialist) on sale to Recap M&A Advisory x Challenge Group. SME x Staffing Firm • Sellick Partnership (UK based public sector recruiter) on sale to France based professional support and business services provider Samsic. Regions • Orion Electrotech (UK based Technical recruiter) on sale to TechnoPro Inc EMEA x UK, Switzerland, Belgium, (Japan). Germany, France, Sweden. • Boyd & Moore (Japan based executive search business) on acquisition by APAC x Japan, Hong Kong, TechnoPro (Japan). Singapore, Australia Americas x USA, Canada

Key Contact Brad Buttermore Company Description Contact Phone Capital Alliance Corporation (CAC) is a member firm of Oaklins +1 214 638 8280 International, with 800 M&A team members in 40 countries. CA has Contact Email represented hundreds of private business owners in the sale of their [email protected] companies for over 40 years and has a 25 year history in our Human Capital Management segment which serves many staffing verticals, Web Address payroll companies, Professional Employer Organizations (PEOs), www.cadallas.com Consulting companies and other HR related business. Capital Alliance Headquarters and its Oaklins team members offer subject matter experts for every Dallas, TX 75207 field of Human Capital related opportunities whether they are selling shareholders, private equity disposals, buyers, investors or Deal Type Service recapitalizations for operators. Angel Accountant

Cross-Border x Consultant x Advised Domestic x Corporate Finance x • Sale of US commercial staffing operation to private equity backed ESOP Investor (VC/PE) operating company

IPO Law Firm • Sale of Professional Employer Organization as a platform to US Private Equity Fund. MNE DCM/ECM • Managed spin off of US operating unit of European parent company Recap x M&A Advisory x in the technical consulting business. SME Staffing Firm • Sale of US financial and accounting staffing organization to small public staffing company to diversify margins and increase margins. Regions • Managed spin off of change management Consulting organization EMEA from its parent company.

APAC • Sale of Professional Employer Organization to strategic operating buyer to expand geographic and service footprint.

Americas Dallas,TX

Key Contact Ervin Schellenberg Company Description Contact Phone Capitalmind is one of Europe’s largest independent corporate finance +49 (0)61 1205 4810 advisory firms – and fully owned by its partners. Since 1999, they have Contact Email provided unbiased advice to mid-market companies, entrepreneurs, [email protected] family businesses, (private equity) investors and large corporates on selling, buying and financing businesses across the globe. They operate Web Address in the following sectors: Business Services – Consumer – Food & Agro www.capitalmind.com – Healthcare – Industrials – TMT. Capitalmind has advised on more Headquarters than 200 deals and recently welcomed Investec as a strong partner. Wiesbaden, Germany

Deal Type Service

Angel Accountant Cross-Border x Consultant Recent or Notable Deals Domestic x Corporate Finance X • Sale of IT staffing services company to Orlando management AG ESOP Investor (VC/PE) • Advisor of Van den Belt Capital by its investment in Teamshape IPO Law Firm • Sale of DBS Talent&salaris and financieel to Visma / HG Capital MNE DCM/ECM • MBO of Meotec (consulting firm) backed by Azulis Capital Recap M&A Advisory x • Management of K+V financial interim acquired the division of K+V SME x Staffing Firm Veenendaal via a management buy out (HighQ) • Advisor by the sale of an online and mobile employment provider to a Regions listed company EMEA X Germany, Holland, France, Switzerland, Nordics, UK APAC X India Americas X USA

Key Contact Bob Balaban, Managing Director Company Description Contact Phone Capstone Headwaters provides world-class M&A Advisory Services to +1 303 792 9400 middle-market business owners and investors pursuing a sale Contact Email transaction. We are experts in generating shareholder wealth, either [email protected] through a full or partial exit. Our reach into both the strategic acquirer and private equity communities is extensive and our industry Web Address relationships are deep. Through the marriage of our transaction www.CapstoneHeadwaters.com execution skills and our sector expertise, we are able to deliver superior Headquarters valuations with enhanced speed to closure and probability of success. Boston, MA USA Capstone Headwaters also delivers buy-side advisory services to large corporate acquirers, acquisitive middle market businesses and PE- Deal Type Service backed portfolio companies seeking to leverage our industry expertise. Angel Accountant Our M&A bankers often team with our financial advisory services (FAS) Cross-Border X Consultant group to assist acquirers throughout the entire transaction process, including target identification, transaction structuring & negotiation, Domestic X Corporate Finance X business & financial due diligence, quality of earnings review, valuation ESOP X Investor (VC/PE) & fairness opinions, and managing the closing process.

IPO Law Firm

MNE X DCM/ECM Advised

Recap X M&A Advisory X Capstone Headwaters completed 70 transactions in 2019 (more than one transaction per week!) totalling over $5 Billion in transaction value. SME X Staffing Firm Please visit our website to see specific transaction examples that are relevant to your business. Regions EMEA X London, UK

APAC

Americas X Many US offices and Brazil

Citizens M&A Advisory (fka Bowstring Advisors)

Key Contact Alan Bugler / Dave Phillips / Steve Dyott Company Description Contact Phone Citizens M&A Advisory is a leading middle market investment bank that +1 404 461 4600 supports clients across a focused set of industry sectors. Our bankers Contact Email thrive on delivering keen market insights that are both strategic and alan.bugler@ / dave.phillips@ / stephen.dyott@ thoughtful, while driving extraordinary outcomes for our clients. Our team @citizensbank.com includes 60+ investment banking professionals across the U.S. who have completed 160+ transactions since 2015 totaling approximately Web Address $10B in transaction value. Citizens is one of the fastest growing M&A www.citizenscommercialbanking.com/ma-advisory advisors in the U.S. Citizens M&A Advisory is a member of FINRA and Headquarters SIPC and is a registered broker‐dealer. Providence, RI

Advised Deal Type Service • DeWinter Group, a leading staffing provider specializing in Angel Accountant Technology and F&A, in its recapitalization by New Heritage Capital. Cross Border X Consultant • EdgeRock, a Boston-based Technology staffing firm in its acquisition Domestic X Corporate Finance X by BGSF..

ESOP X Investor (VC/PE) • WinterWyman, a Boston-based professional staffing firm in its acquisition by Planet Group. IPO Law Firm • New State Capital Partners in its acquisition of Klein Hersh, a leading X X MNE DCM/ECM national executive search and consulting firm focused on healthcare Recap X M&A Advisory X and life sciences.

SME X Staffing Firm • TruStaff, one of the largest independent travel nurse staffing firms, in its recapitalization by Cornell Capital. Regions EMEA X APAC X Americas X

Key Contact Mike Zyborowicz, CPA Company Description Contact Phone Citrin Cooperman is the nation’s largest provider of accounting, tax and +1 215 545 4800 x 4133 consulting services to the staffing industry. With over 40 years of deep Contact Email staffing industry expertise, Citrin Cooperman has earned the trust of more staffing companies of all sizes than any other accounting firm in [email protected] the United States. We work with all types and all sizes of staffing Web Address companies, including contingent and retained search, staffing and www.citrincooperman.com PEO’s throughout America. Headquarters New York, NY Advised Deal Type Service • PE-backed strategic buyer in 60+ add-on acquisitions of security Angel Accountant X guard companies with revenues ranging from $5M to $300M Cross-Border Consultant X • Owners of a New-England based $100M temporary staffing Domestic X Corporate Finance company on the sale of their business to a strategic buyer ESOP X Investor (VC/PE) • Strategic acquirer in several acquisitions of small and mid-size staffing firms located across the United States IPO Law Firm • Portfolio company of a private equity fund in its acquisition of a MNE DCM/ECM $100M staffing firm Recap M&A Advisory X • Buyer involved in a stock purchase of an IT staffing company with SME X Staffing Firm $13M in revenue • $50M revenue staffing company with offices across the country Regions involved in a capital raise EMEA • Strategic acquirer in its acquisition of an IT recruiting and staffing firm with $14M in revenue in Texas APAC

Americas x California, Connecticut, DC Metro (MD & VA), New York, Pennsylvania, Rhode Island © Crain Communications Inc. All rights reserved. 12 M&A Funders and Advisors Directory | 28 July 2021 Clearsight Advisors

Key Contact Joel Kallett Company Description Contact Phone Clearsight Advisors is an independent merchant banking firm dedicated to +1 703 672 3100 providing world-class M&A and capital raising solutions exclusively to growth- Contact Email oriented Business Services and Technology companies. Clearsight combines [email protected] deep market insights across software, services and data. This market knowledge combined with superior strategic and financial advice allows Clearsight to act as a Web Address catalyst, enabling entrepreneurs, private equity owners and board of directors to httpss://clearsightadvisors.com/ successfully advance their vision. Clearsight Capital Advisors, Inc., a wholly Headquarters owned subsidiary, is a registered member of FINRA & SIPC. McLean, Virginia (Greater Washington, D.C.)

Deal Type Service Advised Angel Accountant • E-Nor, Inc. on its acquisition by Cardinal Path, a Dentsu Aegis Network Cross Border X Consultant subsidiary

Domestic X Corporate Finance X • West Monroe Partners on the sale of its Managed Services division to M/C Partners ESOP X Investor (VC/PE) X • Intersys Consulting, LLC on its acquisition by ASGN Incorporated (NYSE: IPO Law Firm ASGN) MNE DCM/ECM X • West Monroe Partners on its acquisition of GoKart Labs Recap X M&A Advisory X • Bulldog Solutions on its acquisition by Hero Digital, a CI Capital Partners LLC SME Staffing Firm portfolio company • Navigator Management Partners in its acquisition by Avaap, an NMS Capital Regions portfolio company EMEA X • Vitech Systems Group in partnership with CVC Capital Partners • Putnam Associates in its acquisition by UDG Healthcare plc’s Ashfield APAC X Communications and Advisory business (LON: UDG)

Americas X McLean VA, New York, NY, • Euclid Technology in its acquisition by Fullsteam Dallas TX and Nashville TN

Key Contact Mark Maunsell Company Description Contact Phone Clearwater International (CWI) is an independent corporate finance +44 845 052 0352 house focused on excellent client outcomes. With 250+ employees in Contact Email 17 international offices, the business has completed over 1600+ [email protected] transactions, worth more than €80 billion. All our projects were delivered by specialist industry teams, covering 10 sectors: automotive, business Web Address services, consumer, energy and utilities, financial services, food and www.clearwaterinternational.com beverage, healthcare, industrials and chemicals, real estate and TMT. Headquarters Working alongside directors, shareholders and investors we advise on London, UK all aspects of corporate finance from mergers and acquisitions (M&A) and company sales through to management buy-outs (MBOs) and Deal Type Service fundraising transactions. Angel Accountant Cross-Border X Consultant Advised Domestic X Corporate Finance X • Chase, a Contract Sales Outsourcing service, on its recapitalisation, ESOP Investor (VC/PE) with investment provided by Vespa Capital

IPO Law Firm • The shareholders on the MBO of Gatenby Sanderson, an interim search and selection company, backed by Primary Capital MNE DCM/ECM • Education recruitment business, Synarbor, on its €26m sale to Recap X X M&A Advisory Sovereign Capital Partners LLP SME X Staffing Firm • Sovereign Capital on its majority investment in Nurse Plus, a homecare services staffing business Regions • The shareholders of Brightwater Recruitment, a professional services EMEA X Denmark, France, Germany, recruiter, on the buyout of the company Ireland, Italy, Portugal, Spain, UK • Social worker recruitment agency, Liquid Personnel, on its sale to APAC X China Towerbrook backed ICS Americas

Key Contact Company Description Roel ter Steeg Corporate Finance International (‘CFI’) is a trusted advisor with over 250 Contact Phone M&A professionals specialising in cross-border acquisitions, divestitures, +31 (0)6 21 23 41 56 capital raisings, and related services all over the world. In 2020, CFI completed almost 140 M&A transactions, involving its partners in 18 Contact Email countries and 4 continents. Within CFI the Staffing & HR services team [email protected] is dedicated to provide global, industry specific, best-in-class, cross- Web Address border M&A advisory services to its international Staffing & HR clients. http://www.thecfigroup.com The Staffing & HR services team has over 200 years of specialised and dedicated M&A experience, with an in-depth understanding of trends Headquarters and developments in the Staffing & HR industry. Amsterdam, the Netherlands Deal Type Service Advised

Angel Accountant • Morgan Stanley Tactical Value Investing, acquired a significant stake in Olympia Nederland, the 6th largest (general) staffing company in Cross Border X Consultant the Netherlands X X Domestic Corporate Finance • Ergon Capital has acquired international outsourced R&D and ESOP Investor (VC/PE) engineer Aurico, a recognized leader in background screening, drug- testing services, selection assessments and other related HR IPO Law Firm solutions has been sold to CareerBuilder, a recruitment technology MNE X DCM/ECM company Recap X M&A Advisory X • Aurico, a recognized leader in background screening, drug-testing SME X Staffing Firm services, selection assessments and other related HR solutions has been sold to CareerBuilder, a recruitment technology company Regions • Solyne, the Dutch leading specialist provider of engineering white- EMEA X Amsterdam, Brussels, Budapest, Cardiff, collar has been sold to Continu Group, the Dutch white-collar Cluj-Napoca, Düsseldorf, Gothenburg, Lisbon, London, Malmö, Milan, Munich, engineering staffing business of Belgium based House of HR, a Paris, Stockholm, Stuttgart, Warsaw, Zurich portfolio company of Naxicap Partners. APAC X Mumbai, Shanghai, Singapore, Tokyo Americas X Chicago, Detroit, Denver, New York, São Paulo

© Crain Communications Inc. All rights reserved. 15 M&A Funders and Advisors Directory | 28 July 2021 De Bellas & Co Key Contact Royal J. Brown Alfred F. De Bellas Contact Phone Company Description +1 949.842.7068 +1 713.443.0805 De Bellas & Co. is the leading investment bank focused on M&A Contact Email advisory services exclusively for the staffing and workforce solutions [email protected] industry. We bring extensive expertise in mergers and acquisitions, [email protected] divestitures, and financial advisory services for our clients. De Bellas Web Address has successfully completed over 250 M&A transactions. www.debellas.com Since 1983, De Bellas & Co. has specialized in serving enterprises Headquarters whose primary value arises from intangible assets, or human capital. Austin, TX Our focus is the middle market, where we provide advice and guidance based on years of experience with entrepreneurs confronting once-in-a- lifetime decisions. We provide senior-level service and attention on all Deal Type Service transactions, large and small, international and domestic, and both Angel Accountant public and private. Our bankers have relationships with hundreds of Cross-Border X Consultant X strategic and financial buyers—and the ability to identify the most likely and best-suited parties to a transaction. Domestic X Corporate Finance X ESOP X Investor (VC/PE) Advised IPO Law Firm • Advised Legal Process Outsourcing firm in the sale to Private Equity MNE DCM/ECM Group. Recap X X M&A Advisory • Assisted large public company in the divesting of its Legal staffing SME Staffing Firm and outsourcing division. • Advised commercial staffing firm to large multi discipline staffing firm. Regions • Advised in recapitalization of an HR Software Firm. EMEA

APAC

Americas X

Key Contact John Niehaus Company Description Contact Phone Duff & Phelps’ Staffing M&A team processes deep staffing industry +1 713 986 9307 knowledge while maintaining regular interaction with the key strategic Contact Email buyers in the industry, both domestic and international, as well as the [email protected] most active private equity buyers interested in the staffing sector. Web Address Duff & Phelps is known for having high quality staffing acquisition www.duffandphelps.com opportunities in the marketplace, enabling the firm to elicit robust interest from both financial and strategic buyers. Duff & Phelps’ Staffing M&A Headquarters team will manage a tight, cohesive process that supports strong Houston, Texas outcomes for both the shareholders and management teams of its staffing industry clients. Deal Type Service

Angel Accountant Advised Cross Border X Consultant • TechLink in its sale to The Execu|Search Group Domestic X Corporate Finance X ESOP Investor (VC/PE) • The Rowland Group in its sale to System One

IPO Law Firm • Brilliant in its recapitalization transaction with Silver Oak Services Partners MNE DCM/ECM • Maxsys Solutions in its sale to Yoh Recap X M&A Advisory X • Vision Technology Services in its sale to BG Staffing SME Staffing Firm • Hudson Global in the divestiture of its IT staffing business to Mastech Regions Holdings EMEA • Hudson Global in the divestiture of its legal eDiscovery business to DTI

APAC • InStaff in its sale to BG Staffing

Americas X United States

Key Contact Peter Rothschild Company Description Contact Phone East Wind is a New York based boutique investment bank which +1 646-202-1509 provides merger and acquisition services, financing services, and other Contact Email general financial advisory services to the staffing and placement [email protected] industries. The firm is a member of FINRA (Financial Industry Regulatory Authority), SIPC and registered with the Securities and Web Address Exchange Commission (SEC) as a broker-dealer. www.eastwindadvisors.com East Wind provides a full array of corporate financial advisory services Headquarters including: merger and acquisition (M&A), cross border advisory services, New York, NY exchange offers, fairness opinions, leveraged and management buyout advisory services, employee stock ownership plan (ESOP) advisory Deal Type Service services, recapitalization advisory services, restructuring and bankruptcy Angel Accountant advisory services, strategic alliances and takeover defence services. Cross Border X Consultant Financing services include arranging bank debt, mezzanine financing, Domestic X Corporate Finance X private investments in public entities (PIPEs), private placements, public equity and high yield underwriting advisory services and ESOP X Investor (VC/PE) X recapitalisations of all kinds. IPO Law Firm

MNE X DCM/ECM Advised Recap X M&A Advisory X Not disclosed; The firm has represented staffing industry clients in SME X Staffing Firm exclusive sales to strategic and financial buyers as well as in employee stock ownership plan (ESOP) transactions. Regions EMEA

APAC

Americas X

Key Contact Eugenio Micheletti/Martin Padulla Company Description Contact Phone We are a team of consultants specialized in M&A processes in the +54 9341 5596515/ +54 9341 5412405 staffing and outsourcing industry. We have a thorough knowledge of the Contact Email Iberoamerican markets: Latin American + Spain + Portugal. We [email protected] understand its key variables, players, opportunities and challenges. Web Address The expertise in the industry we have acquired for over 20 years has https://www.emergingsb.com/ enabled us to build reliable relationships with relevant actors of the industry in Latin America, Europe, United States and Asia Pacific. We Headquarters work to improve key processes for the seller and to develop the most Buenos Aires, Argentina suitable landing strategy in the region for the buyer. As a result, we achieve the right matching for both parties. Deal Type Service We reward the confidence of our clients by accompanying them Angel X Accountant throughout the whole M&A process. We strongly believe that reliability is Cross Border X Consultant X built by taking into consideration the following values: Integrity, Domestic X Corporate Finance X Professional Ethics, Confidentiality and Results Orientation. ESOP Investor (VC/PE)

IPO Law Firm Advised

MNE X DCM/ECM • Empresaria plc on People Solimano acquisition, based in Peru.

Recap M&A Advisory X • PAE Mexico on Assistem acquisition, based in Argentina.

SME X Staffing Firm • Human Net Colombia on selling to GI Group. • PAE Peru on ERP solution implementation. Regions EMEA APAC Iberoaméri X Spain, Portugal, Mexico, Brazil, ca Colombia, Argentina, Chile, (Americas, Peru, Ecuador, Uruguay, Spain, Paraguay, Panama, Central Portugal) America.

Key Contact Andy Cowherd Company Description Contact Phone England & Company is an independent investment bank that provides +1 212 235 0855 financial advice on mergers and acquisitions, restructurings, and Contact Email financing transactions to owners, executives, and boards of directors of [email protected] public and private companies. The firm's clients include leading companies in the Healthcare, Energy & Industrial Growth, Financial Web Address Services, and Technology markets. Through its affiliates, the firm has https://www.englandco.com investment banking offices throughout Europe, India and Japan. Offices Houston, New York, Singapore, Washington DC England Team Members’ Experience Deal Type Service • Former investor in and Board Member of Nursefinders Inc.; led Angel Accountant acquisition, financing and sale transactions Cross-Border X Consultant • Former investor in Sinclair Montrose Healthcare plc (Match Group plc) Domestic X Corporate Finance X ESOP X Investor (VC/PE) • Advisor to major international staffing company on U.S. healthcare staffing acquisition strategy and potential acquisition targets IPO Law Firm • Advisor to PE firms on potential U.S. staffing investments and MNE X DCM/ECM X acquisitions Recap X M&A Advisory X

SME X Staffing Firm

Regions EMEA X

APAC X

Americas X

© Crain Communications Inc. All rights reserved. 20 M&A Funders and Advisors Directory | 28 July 2021 Fairmount Partners Key Contact Andrew Brown & Dick Thatcher Company Description Contact Phone Fairmount Partners is an independent mergers and acquisitions advisory firm +1 215 287-5200 / +1 610-260-6238 primarily serving professional services, information technology, life sciences and Contact Email healthcare clients. The firm specializes in advising successful, entrepreneur-led [email protected] and private-equity-owned middle-market growth companies with mergers and acquisitions, and assists companies to raise funding for acquisitions, growth and [email protected] liquidity. Fairmount combines sector expertise and leading market intelligence Web Address with an independent, client-focused advisory culture. Fairmount has completed www.FairmountPartners.com more than 240 transactions throughout North and South America, Europe, Asia and Australia. Fairmount Partners is a registered Broker Dealer, member FINRA Headquarters (www.finra.org) and SIPC (www.sipc.org). Philadelphia, PA

Deal Type Service Advised Angel Accountant • Advised LeapFrog, a specialized consultancy focused on providing enterprise- Cross-Border X Consultant scale digital business transformation services to Fortune 500 clients, in its sale Domestic X Corporate Finance X to ASGN Incorporated (NYSE: ASGN) ESOP Investor (VC/PE) • Advised Insight Workforce Solutions, an education service staffing company, in IPO Law Firm its sale to Kelly Services, Inc. (Nasdaq:KELY)

MNE X DCM/ECM • Advised Artech, a top-7 North American IT staffing firm, in their acquisition of the Talent & Technology Solutions business unit of CDI Corporation Recap X M&A Advisory X • Advised Ascent, an award-winning professional staffing firm, in its sale to ACS SME X Staffing Firm Group (American CyberSystems) • Advised ALKU, one of the fastest growing staffing firms in the world, on its Regions recapitalization with WestView Capital Partners EMEA X Extensive experience in • Advised BioBridges, a specialty life sciences staffing and consulting services cross-border transactions provider, in its sale to Adecco (SIX: ADEN) APAC X • Advised Redbock, a niche provider of staffing services into the medical device and drug development industries, in its sale to NES Global Talent Americas X United States (Headquartered in Philadelphia, PA)

Key Contact Geraint Rowe Company Description Contact Phone Gambit is an independent corporate finance lead advisory firm, providing +44 845 643 5500 services to private and public companies throughout the UK as well as Contact Email internationally, with a focus on the middle market. It has a dedicated [email protected] staffing industry team and whether buy side or sell side, preparing a business for exit, raising investment or sourcing strategic advice on Web Address value maximisation every transaction is partner led. www.gambitcf.com Headquartered in London with offices in Cardiff, Gambit is widely Headquarters recognised as a market leader in M&A advice in the Human Capital London, United Kingdom sector having built up detailed industry knowledge and an enviable track record in deal origination and execution. Deal Type Service

Angel Accountant Advised Cross Border X Consultant • Acorn Recruitment on its sale to Synergie Domestic X Corporate Finance X ESOP Investor (VC/PE) • Acquisition of Recruitment Zone by Outsource (UK)

IPO Law Firm • Staffing 360 Solutions Inc on acquisition strategy and target identification MNE X DCM/ECM • Management buy out of BIE Executive Recap X M&A Advisory X • ACT Training on its sale to Cardiff & Vale College SME X Staffing Firm • ReThink Group on acquisition strategy Regions EMEA X

APAC

Americas

Key Contact Eric Allison Company Description Contact Phone Golden One Ventures is a Mergers & Acquisitions advisory firm with a +1 916 588 2459 demonstrated history in transactions focused solely on the Staffing & Contact Email Recruiting Industry. With an unshakable commitment to creating deals [email protected] that are opportune for all parties involved, Golden One Ventures provides strategic, tailor-fit solutions for buy-side and sell-side clients. Web Address www.goldenoneventures.com Golden One Ventures supports a wide array of clients in the middle market including institutional private equity groups, private companies Headquarters and individual investors. They have supported multiple companies Las Vegas, NV towards reaching and exceeding business goals. Deal Type Service

Angel Accountant Advised Cross Border X Consultant • Healthcare staffing firm Corratel Corp. to nationwide healthcare Domestic X Corporate Finance staffing firm Premier Healthcare Professionals. ESOP Investor (VC/PE) • Hospitality and light Industrial staffing firm KY Hospitality LLC to private equity group Hoosier Investments LLC. IPO Law Firm • Light Industrial staffing firm Staff Matters to staffing firm NSC MNE DCM/ECM Technologies, backed by private equity firm White Wolf Capital. Recap M&A Advisory X • Accounting & Finance staffing firm CV Resources to private investor. SME X Staffing Firm

Regions EMEA X UK

APAC Singapore, Japan, China, Hong Kong, Philippines

Americas X USA, Canada

Key Contact Company Description Philp Albright (UK) / Kevin O’Neill (USA) We are a partner centric firm with offices in London, California and Contact Phone Latam providing advisory services to sellers or buyers in M&A projects +44 (0) 7752 692 126 / +1 619 987 8223 globally, with specific emphasis and expertise in the human capital and Contact Email human resources technology (HRTech) sectors. The majority (70%) of [email protected] / [email protected] our engagements result in cross border transactions as can be seen in further detail in the transactions section of our website. Web Address https://goldenhill.international Headquarters Advised London, United Kingdom • Launchpad Recruits Ltd, a provider of a market leading SaaS-based Deal Type Service recruitment automation and video interviewing platform, in sale to US- based OutMatch, a leading provider of a SaaS-based talent Angel Accountant intelligence platform. Cross Border X Consultant • Beijing Career International (“CI”), a China based recruitment Domestic X Corporate Finance solutions provider, in its acquisition of a majority stake of UK recruitment firm Investigo for approximately £22 million. ESOP Investor (VC/PE) • Hays Plc on its U.S. platform acquisition of Veredus, a IT staffing IPO Law Firm provider in the Southeastern U.S. MNE DCM/ECM • Sigmar, an Irish Recruitment firm, in completion of a strategic Recap M&A Advisory X partnership with French staffing giant Groupe Adéquat. SME X Staffing Firm • GECO Deutschland, a German IT Recruitment firm, in the sale of the company to Yoh. Regions • J&C Associates Limited, a Recruitment firm based in the United EMEA X United Kingdom Kingdom and specialising in IT, in the recently completed sale to eTeam Inc. APAC • ROC Global Solution Consulting Limited, a human resources technology consulting business, in the sale of the company to Zalaris Americas X United States, Argentina ASA

Key Contact Rod Hore Company Description Contact Phone HHMC Global is an independent advisory group focused exclusively on +61 419 401 210 the Staffing industry. HHMC Global has in depth experience and Contact Email knowledge of the Australian, New Zealand and Asian, complemented by [email protected] strong international networks especially in the UK and US. Web Address HHMC’s team provide a range of services to assist organizations www.hhmc.com.au prepare and manage equity transactions, be they acquisitions, mergers, divestments or exits. Services are provided on cross border as well as Headquarters within different international geographies. Sydney, Australia Founded in 1999, HHMC has completed sale or acquisition transactions Deal Type Service for clients that include SME’s, private, public and international organizations. Angel Accountant

Cross Border X Consultant X Advised Domestic X Corporate Finance ESOP Investor (VC/PE) • Publicly listed Japanese buyer for Australian based acquisitions.

IPO Law Firm • Global corporate entity on divestment in APAC.

MNE DCM/ECM • IT agencies on sale to publicly listed Australian buyer

Recap M&A Advisory X • Group of Canadian agencies on merger.

SME X Staffing Firm • Completed sale of UK owned healthcare agency to Australian private company buyer. Regions • Large-scale Industrial Workforce supplier on international market EMEA X UK & Partner offices divestment targets

APAC X Australia, New Zealand, Singapore, Hong Kong

Americas X Canada, US & Partner offices

Key Contact Company Description Thomas Bailey / Andrew Shell Houlihan Lokey (NYSE:HLI) is a global investment bank with expertise Contact Phone in mergers and acquisitions, capital markets, financial restructuring, +1 404 495 7056 / +1 404 495 7002 valuation, and strategic consulting. The firm serves corporations, Contact Email institutions, and governments worldwide with offices in the United [email protected] / [email protected] States, Europe, the Middle East, and the Asia Pacific region. Independent advice and intellectual rigor are hallmarks of the firm’s Web Address commitment to client success across its advisory services. Houlihan www.hl.com Lokey is ranked as the No. 1 M&A advisor for all U.S. transactions, the Headquarters No. 1 global restructuring advisor, and the No. 1 global M&A fairness Los Angeles, California opinion advisor over the past 20 years, according to Thomson Reuters.

Deal Type Service Advised Angel Accountant • Magenic on its sale to Cognizant Cross-Border X Consultant

Domestic X Corporate Finance X • Ettain Group on its sale to A&M Capital Partners ESOP X Investor (VC/PE) • Global Employment Solutions on its sale to Ettain Group

IPO Law Firm • Eliassen Group on its sale to Stone Point Capital

MNE X DCM/ECM X • Motion Recruitment on its sale to Littlejohn & Co.

Recap X M&A Advisory X • Olympia Recruitment on its sale to Morgan Stanley Tactical Value Investing SME X Staffing Firm • CDI Corporation (NYSE: CDI) sale to AE Industrial Regions • MedPartners on its sale to AMN Healthcare EMEA X Amsterdam, Dubai, Frankfurt, London, • CIP Capital on its investment in WilsonHCG Madrid, Milan, Paris • Ingeus on its sale to Advanced Personnel Management APAC X Beijing, Hong Kong, Singapore, Sydney, Tokyo • TPGS on its sale to System One Americas X Atlanta, Chicago, Dallas, Houston, Los Angeles, Miami, Minneapolis, New • ECS Federal on its sale to ASGN York, San Francisco, Washington, D.C.

Key Contact Nick Davis Company Description Contact Phone At Mishcon de Reya, we have the largest dedicated Recruitment +44 20 3321 7435 Services Group in the UK, made up of specialists in regulatory, litigation, Contact Email employment and corporate law. We have acted at the highest level for [email protected] organisations, individuals and teams in this sector for over 20 years. Web Address We offer a genuine 'one-stop shop', providing practical and commercial httpss://www.mishcon.com/services/recruitment- solutions in the most complex situations. We advise on the full spectrum services/ of contentious and non–contentious matters, and regularly draw upon additional expertise from our immigration, competition, tax, IT and Headquarters reputation management colleagues. London, United Kingdom Deal Type Service In recent years, very few firms have advised on the number of corporate transactions on which we have acted. Angel Accountant

Cross-Border X Consultant X Advised Domestic X Corporate Finance • Advised Impellam Group on the acquisition of Flexy Corporation for an ESOP Investor (VC/PE) initial consideration of £3m. IPO Law Firm X • Advising 360 Solutions on a series of acquisitions, including the MNE DCM/ECM acquisitions of Clement May, CBS Butler Holdings, The JM Group and Recap M&A Advisory Poolia UK.

SME X Staffing Firm • Acting for the shareholders of Allen Lane on the sale to Outsourcing Inc, as well as the sale of their interests in the consulting and Regions managed services company Allen Lane Consulting to Outsourcing UK. EMEA • Acting for Henderson Scott on the sale to Search Consultancy. • Advising nGAGE Specialist Recruitment on a number of acquisitions APAC including the acquisition of 85% of the issued share capital of Qu Recruitment and CBS Butler Holdings. Americas

Key Contact Steve Nunn Company Description Contact Phone +1 954 300 1973 The experts in the integration of small and mid-size businesses. We help acquirers integrate the people (org chart), technology, business Contact Email operations, processes and cultures. We are engaged in two ways: either [email protected] with In Person consulting, where we work with the client addressing Web Address their specific issues, or by subscribing to a cloud-based service, which www.nunnbetterconsulting.com include online training, templates downloads and a weekly meeting. The cloud-based subscription helps acquirers integrate their acquired Headquarters businesses. Consequently the regions to the left are now global. Weston, Florida, USA

Deal Type Service Advised Angel Accountant • Matrix Medical Network acquisition of HealthFair. Nunn Better Cross-Border Consultant (Post x Consulting was hired to oversee the integration merger of the two Merger Integration) separate IT departments into a single department. Major themes Domestic x Corporate Finance were technology consolidation, process improvement, call center technology implementation. Business culture differences between the ESOP Investor (VC/PE) businesses were identified and addressed through mentoring and IPO Law Firm coaching. MNE DCM/ECM • Boral USA acquisition of Headwaters. Nunn Better Consulting was Recap M&A Advisory hired to co-lead the integration set up, which took place during the federal approval period. When the deal received approval, the entire SME Staffing Firm collection of 12 functional groups were empowered to begin their integrations on schedule. Regions EMEA APAC Americas USA

Key Contact Philip Ellis Company Description Contact Phone +44 (0)7973 625211 Optima Corporate Finance is a London based M&A and Corporate Finance advisor to the Recruitment and HR Tech sectors, led by Philip Contact Email Ellis, who has 25 years in the Recruitment sector and advised on more [email protected] than 100 transactions. Philip founded and floated a vehicle on AIM to back recruitment start-up which then grew into a support services Web Address player. He also helped to launch Sonovate. As a UK boutique with a www.optimacf.com strong network of global partners, we are practical, hands-on advisors Headquarters and we pride ourselves on helping our clients to maximise the value of London, United Kingdom their businesses. Clients range from private businesses seeking a first acquisition or sale to International Groups, Private Equity owned Deal Type Service businesses and quoted companies. We are equally comfortable at Angel x Accountant either end of this spectrum and we know how to get deals done. Confidentiality and discretion underpin everything that we do. Cross-Border x Consultant

Domestic x Corporate Finance x Recent or Notable Deals ESOP Investor (VC/PE)

IPO Law Firm • Sale of S&H Consulting to Sheffield Howarth MNE x DCM/ECM • Sale of HW Global Talent Partner to Zebra People Recap x M&A Advisory x • Acquisition of MTREC by TrustTech SME x Staffing Firm • Sale of CBS Butler to 360 Staffing Solutions (US) Regions • Sale of Easypay to Workr Group EMEA x • Sale of Financial Services Recruitment firm operating across Europe

APAC x Americas x

Key Contact Paul Pincus Company Description Contact Phone Ortoli Rosenstadt LLP is a boutique 14-lawyer corporate and +1 212 588-0022 international law firm based in New York City that is one of the Contact Email preeminent law firms in the country in representing staffing firms ꟷ [email protected] particularly in M&A transactions. Paul Pincus, who heads the firm’s private company Mergers & Web Address Acquisitions and Staffing practices, has over 35 years experience www.orllp.legal representing firms, and doing deals, in all sectors of the staffing Headquarters industry. New York, NY Paul and his team have completed over 80 deals in the staffing industry, ranging in size from under $10 Million in enterprise value to over $100 Deal Type Service Million in enterprise value. The firm has represented digital staffing Angel Accountant platforms, IT staffing and solutions firms, legal staffing firms, accounting and finance staffing firms, commercial staffing firms, light industrial Cross-Border X Consultant staffing firms, home healthcare staffing firms, and executive recruiting Domestic X Corporate Finance firms, in complex domestic and cross-border purchases, sales, mergers, recapitalizations, management buy-outs, and integrations of acquired ESOP Investor (VC/PE) businesses. IPO X Law Firm X

MNE x DCM/ECM Advised Recap X M&A Advisory • Represented one of the largest multinational staffing firms in several SME x Staffing Firm acquisitions during the build-out of its U.S. operations. • Represented $150M staffing firm in the sale of its commercial staffing Regions and home heath care operations. • Represented numerous IT staffing and solutions firms in their sales to EMEA Physical Offices national and multinational staffing firms. • Represented numerous staffing firms (commercial staffing, APAC accounting and finance, and IT staffing) in their recapitalizations by private equity firms. Americas X New York, NY • Represented digital staffing platform in several recent acquisitions.

Key Contact Matt Rupprecht Company Description Contact Phone PMCF is an award-winning middle market investment bank providing +1 248 603 5210 merger and acquisition advisory services to companies in North Contact Email America, Europe, and Asia. PMCF provides a broad range of services [email protected] including sale advisory, acquisition advisory, capital raising, and strategic advisory. The firm has dedicated industry teams providing Web Address services to the plastics and packaging, medical technology, industrials, http://www.pmcf.com/ and business services industries. PMCF has dedicated resources Headquarters serving the staffing and human capital management (HCM) industry. Detroit, MI PMCF has offices in Chicago, Denver, and Detroit and around the globe via its Corporate Finance International associates. Deal Type Service

Angel Accountant Advised Cross Border X Consultant • Premier Employee Solutions, LLC, 1st Class Staffing, LLC, EZ Payroll Domestic X Corporate Finance & Staffing, LLC, BrandPack Solutions, LLC, and Premier ESOP Investor (VC/PE) Implementation Solutions Canada Inc. in its sale to SwipeJobs

IPO Law Firm • Aurico in its sale to CareerBuilder

MNE X DCM/ECM • West Educational Leasing (d/b/a PMCI and Willsub) in its successful sale to Educational Staffing Solutions (ESS) / Source 4 Teachers (a Recap X X M&A Advisory portfolio company of Nautic Partners) SME X Staffing Firm

Regions EMEA

APAC

Americas X Chicago, Detroit, Denver

Key Contact Sam Sacco Company Description Contact Phone R.A. Cohen Consulting has completed over 180 transactions and has +1 910 769 4057 over 76 years of staffing and M&A experience. We continue to be very Contact Email bullish on the M&A activity for 2021. There is plenty of cash and [email protected] motivation among buyers and more sellers seem to believe it is a good time for an exit. With the predications for increased staffing growth for Web Address the future, investors see the industry as a great place to increase their www.racohenconsulting.com earnings. We have had several straight years of high demand and we Headquarters believed last year that increases in multiples would top out at their Wilmington, North Carolina highest level in two decades. We believe that based on current demand that there is still room for multiples to move up slightly in 2021. The Deal Type Service Covid virus has impacted some company revenue and PPP loans have Angel Accountant been used so these factors will affect deal structures, if not value.

Cross Border X Consultant X

Domestic X Corporate Finance Advised ESOP Investor (VC/PE) • The sale of a $165M light industrial company to a private equity firm

IPO Law Firm • The $20M divesture of multiple branches in one state for mostly cash in a record 45 days from listing to closing to an international firm MNE DCM/ECM • A company that specialized in concierge, multi-unit property Recap M&A Advisory X management and federal government staffing to an investment group SME Staffing Firm looking to roll up multiple staffing companies • A $30M commercial staffing company in New York State to an in-state Regions strategic buyer EMEA

APAC

Americas X Wilmington, NC and Toronto Canada

Key Contact Avinash Patel Company Description Contact Phone RBC is a top 10 Investment Bank headquartered in Toronto, Canada +1 212 905 2944 with US Headquarters in New York, New York. RBC is a $115bn market Contact Email capitalized bank with over $35bn in revenue and $1.09T in assets. RBC [email protected] is a global investment bank providing M&A advisory and Financing to a number of Technology & Business services firms globally. Web Address www.rbc.com Avinash Patel is a Managing Director within the Technology Investment Banking Group at RBC Capital Markets. He is the Head of Technology Headquarters (US) & Business Services for RBC Capital Markets and coordinates the New York, NY Firm’s activities in the sector globally. Deal Type Service Prior to RBC, Avinash was a Managing Director at J.P. Morgan (’13 – ’18), where he was a Technology Banker covering clients within the Angel Accountant services & software sector within the greater Mid-Atlantic region. Prior to Cross Border X Consultant J.P. Morgan, Avinash was a Managing Director within the Technology Domestic X Corporate Finance X Investment Banking Group at Barclays Capital, where he focused on the Enterprise & Information Services Sectors and also had a leadership ESOP Investor (VC/PE) role in the Group’s coverage of the broader Private Equity and Venture IPO X Law Firm Capital community. He had also spent ’99 – ’07 with J.P. Morgan in the Technology Investment Banking Group covering technology clients in MNE DCM/ECM X San Francisco and New York. Recap X M&A Advisory X

SME Staffing Firm Advised

Regions • $1.1bn IPO for Telus International EMEA X • $90mm IPO for Ibex LTD • Sale of Medicus healthcare solutions to Beecken Petty O’Keefe APAC X • Financing of StonePoint’s acquisition of Eliassen • $240mm ABL debt financing for EmployBridge Americas X

Key Contact Company Description Robert Dunnett Rothschild & Co’s Global Advisory business designs and executes Contact Phone strategic M&A and financing solutions. We combine the breadth of its +44 207 280 5000 advisory offering with a high volume of transactions to achieve a unique Contact Email understanding and perspective into markets and participants worldwide. [email protected] We provide impartial, expert advice to large and mid-sized corporations, Web Address private equity, families and entrepreneurs, and governments through an http://www.rothschildandco.com/ unrivalled network of 1,000 industry and financing specialists in over 40 countries worldwide. Headquarters London, UK We have completed a wide variety of advisory mandates across the HCM sector and consistently been one of the most active advisers in the Deal Type Service sector for a number of years. The scope of our typically cross-border Angel Accountant mandates has covered generalist and niche suppliers in addition to businesses operating in wider HR services areas such as RPO and Cross Border X Consultant MSP. Domestic X Corporate Finance X ESOP Investor (VC/PE) Advised IPO X Law Firm • Livingbridge on the sale of Frank Recruitment Group (UK) to TPG MNE X DCM/ECM X Growth (US) Recap X M&A Advisory X • Phaidon International (UK) on its sale to Quilvest Private Equity (US) SME Staffing Firm • OMERS Private Equity (CAN) on the acquisition of Alexander Mann Solutions (UK) Regions

EMEA Belgium, France, Germany, Greece, Israel, Italy, • Ausy (FR) on the friendly cash tender offer by Randstad (FR) Luxembourg, Poland, Portugal, Qatar, Russia, South Africa, Spain, Sweden, Switzerland, The • K2 Partnering Solutions (UK) on the minority investment by Inflexion Netherlands, Turkey, UAE, UK Partners (UK) APAC Australia, New Zealand, China, Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Singapore, • Tradesmen International (US) on its sale to Wellspring Capital (US) South Korea, Vietnam • Harvey Nash (UK) on the recommended cash offer by DBAY Advisors Americas USA, Canada, Brazil, Chile, Mexico (UK)

Key Contact Company Description Paul Masters Sovereign Private is an award winning Chartered Accounting firm Contact Phone specializing in the staffing and recruiting industry. The firm provides +61 2 9227 9000 corporate finance services, accounting services and taxation advice to Contact Email the recruitment industry in Australia, New Zealand, Japan and Asia. Our [email protected] depth of knowledge has been gain from over 20 experience of advising Web Address the industry. www.sovereignprivate.com.au M&A sell side transaction are the firms specialty and we have Headquarters established a strong reputation as the adviser of choice to the Sydney, Australia recruitment industry in Australia. We provide both advisory services and transaction support. Deal Type Service Our firm also provides advisory services in respect of buy-outs, Angel Accountant X demergers and ESOPs. .

Cross Border X Consultant X

Domestic X Corporate Finance X Advised ESOP X Investor (VC/PE) • Aurec Group on its sale to Randstad NV

IPO X Law Firm • Peoplebank on its sale to Recruit, Inc MNE DCM/ECM • Bluefin and Marble Group on their sales to Outsourcing, Inc Recap M&A Advisory X • Profusion Group dale to Redwood North Private Equity SME X Staffing Firm • Ensure Recruitment on its demerge from Rubicor Group

Regions • Management buyout of Staff Australia EMEA • ESOP for over 20 Australia private recruitment companies

APAC Australia, New Zealand, Japan and Asia

Americas

Key Contact Joel A. Klarreich Company Description Contact Phone With over four decades of experience advising businesses, Tannenbaum +1 212 508 6747 Helpern corporate attorneys know the importance of understanding the company’s business goals and industry factors and their impact on each Contact Email transaction. [email protected] Tannenbaum Helpern represents staffing firms in mergers, acquisitions, joint Web Address ventures, license agreements, public offerings, private placements, http://www.thsh.com recapitalizations, venture capital, lending transactions as well as business Headquarters formation, corporate and partnership structures, operating agreements, New York, NY contract negotiations and a wide range of corporate matters. We have completed over 100 deals in the staffing industry and have the experience to Deal Type Service represent any staffing firm in a manner designed to maximize deal value and Angel X Accountant reduce post closing issues.

Cross-Border X Consultant

Domestic X Corporate Finance Advised ESOP Investor (VC/PE) • Represented a holding company and its majority-owned subsidiaries operating staffing and placement businesses in numerous locations in the IPO X Law Firm X reorganization and sale of a controlling interest to a family office and its co- MNE X DCM/ECM investors Recap X M&A Advisory • Represented a specialty temporary staffing business in the $70 million sale SME X Staffing Firm of the company • Represented a listed staffing, home healthcare and direct-hire company in a Regions cash for stock sale and merger with a privately-held staffing company EMEA • Represented a national conglomerate of 12 permanent and temporary placement firms in its sale to a strategic buyer APAC • Represented a local specialty temporary and direct-hire firm in a cross- border sale to an international buyer Americas X United States

the1

Key Contact Mark Dixon Company Description Contact Phone the1 is the leading international human capital M&A advisor with more +1 212 517 1850 (NY), +44 207 556 1090 (London) than 85 deals completed in over 25 countries. Founded 20 years ago, Contact Email the firm expanded abroad in 2010 and now has offices in the UK, [email protected] Europe, China in addition to the US. Web Address We work on the sell side or buy side, in each case advocating the www.the1.com interests of client to deliver ‘the1’ optimal transaction in the market Headquarters globally. We deliver the optimal deal by overlaying price, strategy and London, New York City, Milan, Beijing psychology/culture on all counterparty opportunities. A sell side advisor not covering international buyers loses the chance to maximize the price Deal Type Service choice and auction dynamics to favor its clients, hence our international expansion 10 years ago. Angel Accountant the1 publishes white papers such as Disruption in Staffing, Valuation Cross-Border X Consultant X Approximator to be on top of market trends, valuations and cross-border Domestic X Corporate Finance X opportunities. ESOP Investor (VC/PE) IPO Law Firm X Advised MNE DCM/ECM • On the sell side, on 24 sales of human capital businesses in the US, Recap X M&A Advisory X the UK and other countries.

SME Staffing Firm • 6 IT staffing businesses sales • 7 Sales for owners of professional staffing, 4 RPOs and 9 executive Regions search firms EMEA X London • On the buy side, 54 deals in 17 countries • Assisted 8 buyers in making between 2 and 16 deals each over APAC X multiple years

Americas X New York

Key Contact Patrick Morin, Partner Contact Phone Company Description +1 804 612 7103 Transact Capital Partners is is a full-service mergers and acquisitions Contact Email advisory firm specializing in the confidential sale of privately-owned [email protected] staffing firms. With seventeen highly-skilled professionals, Transact brings a high level of sophistication and expertise to middle market Web Address transactions and we employ a team approach in working with www.TransactCapital.com companies with revenues from $5MM to $250MM. As entrepreneurs Headquarters ourselves, we understand not just the complexity of selling a business Richmond, Virginia USA but also the personal emotions involved in making the decision to sell. Transact’s focus is on helping staffing CEOs plan an execute successful exits to strategic and Private Equity buyers. Deal Type Service

Angel Accountant Recent Deals and Activity Cross-Border x Consultant x • Sale of multiple specialist IT perm companies Domestic x Corporate Finance x • Sale of multiple specialist IT staffing companies ESOP Investor (VC/PE) • Sale of three light industrial staffing companies IPO x Law Firm • Sale of a hospitality staffing company MNE x DCM/ECM • Sale of an maritime skilled-staffing company Recap x M&A Advisory x • Pre-transaction performance consultants to staffing companies in the SME x Staffing Firm technology, light industrial, healthcare, and hospitality verticals. • Staffing Industry thought leadership includes keynote addresses to Regions staffing groups across the country, including: Wisconsin Association EMEA x of Staffing Services, New Jersey Staffing Alliance, Massachusetts Staffing Association, Nation Independent Staffing Association, New APAC x York Staffing Association, Americas x

Key Contacts Kwame Yankson (Business & Tech Staffing) Company Description 980-216-9114 | [email protected] Wells Fargo is the 3rd largest bank with ~$1.9 trillion in assets with a global footprint Dan Evans (Healthcare Staffing) providing a full spectrum of capabilities as a top-tier investment bank (buyside and 980-275-9980 | [email protected] sellside M&A, capital raising, fairness opinions, etc.) and financing (working and investment capital) to support growth and shareholder objectives. Jeffrey Duclow (Loan Originations) 214-505-6868 | [email protected] #1 in market share serving U.S. middle market companies (e.g. privately owned, sponsor backed, publicly traded, etc.) Web Address #3 in total number of U.S. investment banking transactions for five consecutive years. www.wellsfargo.com Deep industry experience providing advisory and financing in the staffing and human Headquarters capital management sectors. San Francisco, CA Relevant Financing Transactions Deal Type Service Lead roles in capital structure and/or capital markets transactions for ASGN, AMN, Angel Accountant Cross Country, DISYS, Kforce, Korn Ferry and dozens of public, sponsor-owned and privately held staffing organizations Cross-Border X Consultant

Domestic X Corporate Finance X Relevant M&A Transactions

ESOP Investor (VC/PE) • Signature Consultants sale to DISYS – Exclusive Sellside Advisor IPO X Law Firm • C&A Industries sale to TPG-backed Medical Solutions – Exclusive Sellside Advisor MNE X DCM/ECM X • ASGN’s $775 Million Acquisition of ECS – Lead Buyside Advisor Recap X X M&A Advisory • Randstad’s $429 Million Acquisition of Monster – Exclusive Buyside Advisor SME X Staffing Firm • Creative Circle sale to ASGN for $600 Million – Exclusive Sellside Advisor Regions • ettaingroup recapitalization by New MainStream Capital – Exclusive Sellside Advisor EMEA X • Korn Ferry’s $95 million acquisition of PDI Ninth House – Exclusive Buyside Advisor APAC X • Apex Systems sale to ASGN for $600 Million – Exclusive Sellside Advisor Americas X

Key Contact Jonathan Hunnicutt Company Description Contact Phone WestView Capital Partners is a private equity firm focused exclusively on +1 617 261 2055 partnering with managers of middle market companies. Our dedicated Contact Email pool of investment capital is comprised of committed capital from [email protected] pension funds, endowments, financial institutions, insurance companies, family offices and former executives whom we have partnered with over Web Address the years. www.wvcapital.com With approximately $1.7 billion under management, we provide equity Headquarters capital for minority and majority recapitalization, growth/acquisition Boston, MA financings and management buyout transactions. Since 1990, the principals of WestView have invested in, and partnered with, Deal Type Service management teams of over 90 companies, working side by side with Angel Accountant management to help them achieve the strategic and financial objectives Cross Border Consultant of their businesses.

Domestic X Corporate Finance ESOP Investor (VC/PE) X Funded IPO Law Firm • Recapitalization of ALKU MNE X DCM/ECM • Acquisition of Holland Square Group Recap X M&A Advisory • Growth investment in Unified Patents SME X Staffing Firm • Growth investment in Collaborative Solutions Regions • Growth investment in Shelby Group EMEA • Recapitalization of Receivable Solutions APAC • Recapitalization of The Phia Group

Americas X USA

Key Contact Ed Manthey Company Description Contact Phone WMA Healthcare Partners provides merger and acquisition services to +1 678 333 4059 healthcare services companies. Our company’s principals are prior Contact Email owners and operators of healthcare staffing firms with a combined [email protected] experience of over 30 years in the industry. We understand how important it is to get objective, quality advice when buying or selling a Web Address company www.wmapartners.com Headquarters Atlanta, Georgia Advised

Deal Type Service • Completed over thirty (35) sell side transactions.

Angel Accountant

Cross Border Consultant

Domestic X Corporate Finance ESOP Investor (VC/PE)

IPO Law Firm

MNE DCM/ECM

Recap M&A Advisory X

SME Staffing Firm

Regions EMEA

APAC

Americas X USA

Other M&A Providers

Company HQ Country Service Website AAFP Accounting & Finance Chandler, AZ USA Investment/M&A www.aafa.com ABN Amro Amsterdam Netherlands Investment/M&A www.abnamro.com AGR Financial Edison, NJ USA Investment/M&A www.agrfinancial.com AIB Commercial Finance Dublin Ireland Investment/M&A https://group.aib.ie American National Bank Oakland Park, FL USA Investment/M&A www.americannationalbank.com American Securities New York, NY USA Investment/M&A www.american-securities.com Anchorage Capital Group New York, NY USA Investment/M&A https://anchoragecap.com Apax Partners New York, NY USA Investment/M&A www.apax.com:443 Auris Finance Oyon France Investment/M&A https://auris-finance.fr Avondale Partners Nashville, TN USA Investment/M&A www.avondalepartnersllc.com Bain Capital Boston. MA USA Investment/M&A www.baincapital.com Barclays London UK Investment/M&A www.barclayscorporate.com Becker New York, NY USA Legal Advisors www.becker.legal Bibby Staffing Finance Banbury UK Investment/M&A www.bibbyfinancialservices.com Blackwood Capital Group London UK Investment/M&A www.blackwoodcapital.com BMO Capital Markets Toronto Canada Investment/M&A https://capitalmarkets.bmo.com BNP Paribas Personal Finance Sa Paris France Investment/M&A https://personal-finance.bnpparibas Boxington Corporate Finance London UK Investment/M&A www.boxington.com Braeburn Advisors Illinois, IL USA Investment/M&A www.braeburnadvisor.com

Other M&A Providers (continued)

Company HQ Country Service Website Brown Brother Harriman Corp Finance New York, NY USA Investment/M&A www.bbh.com BTG Mumbai India Legal Advisors www.btg-legal.com Catalyst Corporate Finance London UK Investment/M&A www.catalystcf.co.uk Captstone Headwaters Boston, MA USA Investment/M&A www.capstoneheadwaters.com Chartswood Group Bristol UK Investment/M&A https://chartswoodgroup.com Chartwell Business Advisors Jasper, CA USA Investment/M&A www.chartwellbiz.com CIT Group Pasadena, TX USA Investment/M&A www.cit.com Citrin Cooperman New York, NY USA Investment/M&A www.citrincooperman.com Clearwater International Birmingham UK Investment/M&A www.clearwaterinternational.com CLSA Securities Japan Tokyo Japan Investment/M&A www.clsa.com Commercial Finance Group Atlanta, GA USA Investment/M&A www.cfgroup.net/ Credit Suisse Zurich Switzerland Investment/M&A www.credit-suisse.com Crestmark Troy, MI USA Investment/M&A www.crestmark.com Daiwa Securities Tokyo Japan Investment/M&A www.daiwa-grp.jp Deloitte New York, NY USA Investment/M&A https://www2.deloitte.com Deutsche Bank Frankfurt Germany Investment/M&A www.db.com DW Healthcare Partners Toronto Canada Investment/M&A www.dwhp.com Epps & Coulson Los Angeles, CA USA Legal Advisors http://eppscoulson.com Ernst & Young Corporate Finance Inc London UK Investment/M&A www.ey.com Fairmont Consulting Group Boston, MA USA Investment/M&A www.fairmontcg.com

Other M&A Providers (continued)

Company HQ Country Service Website Finvista Hyderabad India Investment/M&A www.finvista.com Foley & Lardner Milwaukee, WI USA Legal Advisors www.foley.com Gateley Birmingham UK Legal Advisors https://gateleyplc.com Goldman Sachs New York, NY USA Investment/M&A www.goldmansachs.com Grant Thornton Milton Keynes UK Investment/M&A www.grantthornton.co.uk Haitong International Japninvest Tokyo Japan Investment/M&A www.htisec.com Hamilton Bradshaw London UK Investment/M&A http://hamiltonbradshaw.com Hammond Law Group Cincinnati, OH USA Legal Advisors www.hammondlawgroup.com Harris Wiliams & Co. Richmond, VA USA Investment/M&A www.harriswilliams.com HgCapital London UK Investment/M&A www.hgcapital.com HSBC London UK Investment/M&A www.hsbc.co.uk IDB Bank New York, NY USA Investment/M&A www.idbny.com Insight Venture Management New York, NY USA Investment/M&A www.insightpartners.com Intermonte Milan Italy Investment/M&A www.intermonte.it Intro Protect London UK Legal Advisors www.introprotect.com Jefferies New York, NY USA Investment/M&A www.jefferies.com JPMorgan Chase & Co New York, NY USA Investment/M&A www.jpmorgan.com Keensight Capital Paris France Investment/M&A www.keensightcapital.com Kepler Cheuvreux Paris France Investment/M&A www.keplercheuvreux.com

Other M&A Providers (continued)

Company HQ Country Service Website Law Speed London UK Legal Advisors https://lawspeed.com LEK Consulting Boston, MA USA Investment/M&A www.lek.com Lewis Silkin LLP London UK Legal Advisors www.lewissilkin.com Littlejohn & Co. Greenwich, CT USA Investment/M&A http://littlejohnllc.com Littler Philadelphia, PN USA Legal Advisors www.littler.com Lloyds TSB London UK Investment/M&A www.lloydsbank.com Lyons Solutions Chicago, IL USA Investment/M&A www.lyonssolutions.com Macquarie Capital Group Sydney Australia Investment/M&A www.macquarie.com MBCF Corporate Finance Amsterdam Netherlands Investment/M&A www.mbcf.nl/en Michael Best & Friedrich Milwaukee, WI USA Legal Advisors www.michaelbest.com MergeQuest Lynnfield, MA USA Investment/M&A www.mergequest.com Mirabaud Securities Geneva Switzerland Investment/M&A www.mirabaud.com Mishcon de Reya LLP London UK Legal Advisors www.mishcon.com Mito Securities Tokyo Japan Investment/M&A www.mito.co.jp Mizuho Secutrities Tokyo Japan Investment/M&A www.mizuho-sc.com Morningstar Chicago, IL USA Investment/M&A www.morningstar.com National Creative Strategies New York, NY USA Investment/M&A www.nationalcreativestrategies.com Navigant Capital Advisors Chicago, IL USA Investment/M&A www.navigant.com Nomura Securieties Tokyo Japan Investment/M&A www.nomuraholdings.com

Other M&A Providers (continued)

Company HQ Country Service Website Northcoast Research Cleveland, OH USA Investment/M&A https://northcoastresearch.com ODDO BHF Paris France Investment/M&A www.oddo-bhf.comen Ortoli Rosenstadt New York, NY USA Legal Advisors http://ortolirosenstadt.com Paragon Financial Ft Lauderdale, FL USA Investment/M&A www.paragonfinancial.net Provident Healthcare Partners Boston, MA USA Investment/M&A www.providenthp.com Rajah & Tann Singapore Singapore Legal Advisors www.rajahtannasia.com RBC Capital Markets New York, NY USA Investment/M&A www.rbccm.com ReardonStaffLaw Houston, TX USA Legal Advisors www.reardonstafflaw.com Redburn San Francisco, CA USA Investment/M&A www.redburn.com Robert W. Baird & Co. Milwaukee, WI USA Investment/M&A www.rwbaird.com Royal Bank of Canada Montreal Canada Investment/M&A www.rbcroyalbank.com Scottish Pacific Sydney Australia Investment/M&A www.scottishpacific.com Seneca Coporate Finance Nürnberg Germany Investment/M&A www.seneca-cf.de SMBC Nikko Securities Tokyo Japan Investment/M&A www.smbcnikko.co.jp Southern Bank Company Gadsden, AL USA Investment/M&A www.sobanco.com Squire Patton Boggs Cleveland, OH USA Legal Advisors www.squirepattonboggs.com Staffing Latin America Buenos Aires Argentina Investment/M&A https://staffingamericalatina.comen/ Stifel, Nicolaus & Co. New York, NY USA Investment/M&A www.stifel.com Stonebridge Wealth Group London UK Investment/M&A www.stonebridgewealth.co.uk

Other M&A Providers (continued)

Company HQ Country Service Website SunTrust Robinson Humphrey Atlanta, GA USA Investment/M&A www.suntrustrh.com Taylor Wessing Düsseldorf Germany Legal Advisors www.taylorwessing.com The Tachibana Securities Tokyo Japan Investment/M&A www.1ban.co.jp Thornblade Capital Greenville USA Investment/M&A www.thornbladecap.com Transact Capital Glen Allen, VA USA Investment/M&A http://transactcapital.com Twenty 20 Capital London UK Investment/M&A https://twenty20capital.com UBS Basel Switzerland Investment/M&A www.ubs.comuk/en.html UHY Hacker Young London UK Investment/M&A www.uhy-uk.com Vontobel Zurich Switzerland Investment/M&A www.vontobel.com Wells Fargo Capital Finance San Francisco, CA USA Investment/M&A https://wellsfargocapitalfinance.com White Oak Commercial Finance San Francisco, CA USA Investment/M&A www.whiteoaksf.com William Blair Chicago UK Investment/M&A www.williamblair.com Woodbridge International New Haven, CT USA Investment/M&A https://woodbridgegrp.com Wyvern London UK Investment/M&A www.wyvernpartners.com Zürcher Kantonalbank Zurich Switzerland Investment/M&A www.zkb.ch

Other M&A Providers (continued)

Company Page Company Page Company Page Aileam Consulting 3 De Bellas & Co 16 Optima 29 Baird 4 Duff & Phelps 17 Ortoli Rosenstadt LLP 30

BDO Corporate Finance 5 East Wind 18 P&M Corporate Finance 31 Blackwood Capital 6 Emerging Staffing Brokers 19 R.A.Cohen Consulting 32 Boxington Corporate Finance 7 England & Co 20 RBC Capital Markets 33 Capital Alliance 8 Fairmount Partners 21 Rothschild & Co 34 Capitalmind 9 Gambit Corporate Finance 22 Sovereign Private 35 Capstone Headwaters 10 Golden One Ventures 23 THS&H 36 Citizens M&A Advisory 11 Goldenhill International 24 the1 37 Citrin Cooperman 12 HHMC Global 25 Transact Capital 38 Clearsight Advisors 13 Houlihan Lokey 26 Wells Fargo 39 Clearwater International 14 Mishcon de Reya LLP 27 WestView 40 Corporate Finance International 15 Nunn Better Consulting 28 WMA Partners 41

M&A Funders & Advisors Directory | 12 November, 2018

About SIA

Founded in 1989, SIA is the global advisor on staffing and workforce solutions. Our proprietary research covers all categories of employed and non employed work including temporary staffing, independent contracting and other types of contingent labour.

SIA’s independent and objective analysis provides insights into the services and suppliers operating in the workforce solutions ecosystem including staffing firms, managed service providers, recruitment process outsourcers, payrolling/compliance firms and talent acquisition technology specialists such as vendor management systems, online staffing platforms, crowdsourcing and online work services. We also provide training and accreditation with our unique Certified Contingent Workforce Professional (CCWP) program.

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