Staffing M&A Funders and Advisors - Market Information and Forecasts

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Staffing M&A Funders and Advisors - Market Information and Forecasts
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                      Market Information and Forecasts

   Staffing M&A Funders and Advisors
   28 July 2021 | Adam Pode, Director of Research (EMEA & APAC) | apode@staffingindustry.com
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 memberservices@staffingindustry.com. 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
       apode@staffingindustry.com.

© Crain Communications Inc. All rights reserved.
M&A Funders and Advisors Directory | 28 July 2021

     Aileam Consulting

         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
         davido@aileamconsulting.com                                       (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
        Cross-Border​                                                  x
                                                                             business
                                                   Consultant

        Domestic​                     x            Corporate Finance   x   • Successful M&A searches, ranging from $5m NFI upwards

        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

© Crain Communications Inc. All rights reserved.                                     3
M&A Funders and Advisors Directory | 28 July 2021

     Baird

        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
        bschoch@rwbaird.com                                                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.

© Crain Communications Inc. All rights reserved.                                     4
M&A Funders and Advisors Directory | 28 July 2021

     BDO Corporate Finance

         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
         James.fieldhouse@bdo.co.uk                                        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​                                     M&A Advisory        x
                                                                             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

© Crain Communications Inc. All rights reserved.                                     5
M&A Funders and Advisors Directory | 28 July 2021

     Blackwood Capital
         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
         thomas.kardos@blackwoodcapital.com                                transactions for major global as well as middle market and SME players.
         ronny.grosman@blackwoodcapital.com
                                                                           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
© Crain Communications Inc. All rights reserved.                                       6
M&A Funders and Advisors Directory | 28 July 2021

     Boxington Corporate Finance
         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
         twe@boxington.com                                                 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

© Crain Communications Inc. All rights reserved.                                     7
M&A Funders and Advisors Directory | 28 July 2021

     Capital Alliance

         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
         Brad.buttermore@cadallas.com                                      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
        MNE​
                                                                             Private Equity Fund.
                                                   DCM/ECM

        Recap​                        x                                x
                                                                           • Managed spin off of US operating unit of European parent company
                                                   M&A Advisory
                                                                             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

© Crain Communications Inc. All rights reserved.                                     8
M&A Funders and Advisors Directory | 28 July 2021

     Capitalmind

         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,
         Ervin.Schellenberg@capitalmind.com                                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

© Crain Communications Inc. All rights reserved.                                   9
M&A Funders and Advisors Directory | 28 July 2021

     Capstone Headwaters

         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
         BBalaban@CapstoneHeadwaters.com                                   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
        SME​                          X
                                                                           one transaction per week!) totalling over $5 Billion in transaction value.
                                                   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

© Crain Communications Inc. All rights reserved.                                    10
M&A Funders and Advisors Directory | 28 July 2021

     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
        MNE​                          X            DCM/ECM             X
                                                                             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

© Crain Communications Inc. All rights reserved.                                   11
M&A Funders and Advisors Directory | 28 July 2021

     Citrin Cooperman

         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
         mzyborowicz@citrincooperman.com
                                                                           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
         jkallett@clearsightadvisors.com                                   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

© Crain Communications Inc. All rights reserved.                                      13
M&A Funders and Advisors Directory | 28 July 2021

     Clearwater International

        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+
        Mark.Maunsell@cwicf.com                                            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           M&A Advisory        X
                                                                             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,
                                    Ireland, Italy, Portugal, Spain,
                                                                             recruiter, on the buyout of the company
                                    UK                                     • Social worker recruitment agency, Liquid Personnel, on its sale to
         APAC                 X     China                                    Towerbrook backed ICS

         Americas

© Crain Communications Inc. All rights reserved.                                   14
M&A Funders and Advisors Directory | 28 July 2021

     Corporate Finance International (‘CFI’)

        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
        roel.tersteeg@thecfigroup.com                                            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
       Domestic​                     X             Corporate Finance         X
                                                                                 • Ergon Capital has acquired international outsourced R&D and
       ESOP                                        Investor (VC/PE)                engineer Aurico, a recognized leader in background screening, drug-
       IPO​                                        Law Firm
                                                                                   testing services, selection assessments and other related HR
                                                                                   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
     rbrown@debellas.com                                                   industry. We bring extensive expertise in mergers and acquisitions,
     adebellas@debellas.com                                                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            M&A Advisory        X
                                                                           • 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

© Crain Communications Inc. All rights reserved.                                    16
M&A Funders and Advisors Directory | 28 July 2021

     Duff & Phelps

        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
        john.niehaus@duffandphelps.com                                     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
       Cross Border​                 X
                                                                           Advised
                                                   Consultant
       Domestic​                     X             Corporate Finance   X   • TechLink in its sale to The Execu|Search Group

       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

© Crain Communications Inc. All rights reserved.                                    17
M&A Funders and Advisors Directory | 28 July 2021

     East Wind

         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
         prothschild@eastwindadvisors.com                                  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

© Crain Communications Inc. All rights reserved.                                   18
M&A Funders and Advisors Directory | 28 July 2021

     Emerging Staffing Brokers

         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
         emicheletti@emergingsb.com                                        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
          Deal Type                                Service
                                                                           achieve the right matching for both parties.

         Angel​                         X          Accountant
                                                                           We reward the confidence of our clients by accompanying them
                                                                           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.
© Crain Communications Inc. All rights reserved.                                   19
M&A Funders and Advisors Directory | 28 July 2021

     England & Company

         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
         acowherd@england.com                                              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
        Domestic​                      X           Corporate Finance   X     plc)

        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
         Andrew.Brown@FairmountPartners.com                                and private-equity-owned middle-market growth companies with mergers and
                                                                           acquisitions, and assists companies to raise funding for acquisitions, growth and
         Dick.Thatcher@FairmountPartners.com                               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
                                    cross-border transactions
                                                                           • Advised BioBridges, a specialty life sciences staffing and consulting services
                                                                             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)
© Crain Communications Inc. All rights reserved.                                   21
M&A Funders and Advisors Directory | 28 July 2021

     Gambit Corporate Finance

         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
         geraint.rowe@gambitcf.com                                         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

        Cross Border​                  X
                                                                           Advised
                                                   Consultant

        Domestic​                      X           Corporate Finance   X   • Acorn Recruitment on its sale to Synergie

        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

© Crain Communications Inc. All rights reserved.                                   22
M&A Funders and Advisors Directory | 28 July 2021

     Golden One Ventures

         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
         eric@goldenoneventures.com                                        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
       IPO​
                                                                             private equity group Hoosier Investments LLC.
                                                   Law Firm
       MNE​
                                                                           • Light Industrial staffing firm Staff Matters to staffing firm NSC
                                                   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

© Crain Communications Inc. All rights reserved.                                    23
M&A Funders and Advisors Directory | 28 July 2021

     Goldenhill International M&A Advisers

        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
        philip.albright@gtallp.com / kevin.oneill@gtallp.com               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

© Crain Communications Inc. All rights reserved.                                     24
M&A Funders and Advisors Directory | 28 July 2021

     HHMC Global

        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
        Rod.Hore@hhmc.com.au                                               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
       Angel​
                                                                           organizations.
                                                   Accountant

       Cross Border​                 X             Consultant          X

       Domestic​                     X             Corporate Finance
                                                                           Advised

       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

© Crain Communications Inc. All rights reserved.                                   25
M&A Funders and Advisors Directory | 28 July 2021

     Houlihan Lokey

         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
         TBailey@hl.com / AShell@hl.com                                       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
        Angel​                                     Accountant
                                                                              Advised

        Cross-Border​                  X           Consultant
                                                                              • Magenic on its sale to Cognizant

        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.

© Crain Communications Inc. All rights reserved.                                      26
M&A Funders and Advisors Directory | 28 July 2021

     Mishcon de Reya LLP

       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
       Nick.Davis@Mishcon.com                                              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

© Crain Communications Inc. All rights reserved.                                   27
M&A Funders and Advisors Directory | 28 July 2021

     Nunn Better Consulting

         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
         info@nunnbetterconsulting.com                                       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
        ESOP                                       Investor (VC/PE)
                                                                               technology implementation. Business culture differences between the
                                                                               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

© Crain Communications Inc. All rights reserved.                                     28
M&A Funders and Advisors Directory | 28 July 2021

     Optima Corporate Finance
        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
        Philip@optimacf.com                                                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

© Crain Communications Inc. All rights reserved.                                   29
M&A Funders and Advisors Directory | 28 July 2021

     Ortoli Rosenstadt LLP
        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
        php@orllp.legal                                                    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,
        ESOP                                       Investor (VC/PE)
                                                                           recapitalizations, management buy-outs, and integrations of acquired
                                                                           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.

© Crain Communications Inc. All rights reserved.
M&A Funders and Advisors Directory | 28 July 2021

     P&M Corporate Finance, LLC (PMCF)

        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
        Matt.Rupprecht@pmcf.com                                            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              M&A Advisory        X
                                                                             portfolio company of Nautic Partners)
       SME​                         X              Staffing Firm

        Regions
        EMEA

        APAC

        Americas             X     Chicago, Detroit, Denver

© Crain Communications Inc. All rights reserved.                                   31
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