US staffing firm TrueBlue acquires light industrial specialists The Work Connection
2 October 2013
US-wide industrial staffing firm TrueBlue says it has “acquired substantially all of the assets” of light industrial staffing provider The Work Connection, which has 37 branches, mainly based in the Midwest region.
Wed, 2 Oct 2013US-wide industrial staffing firm TrueBlue says it has “acquired substantially all of the assets” of light industrial staffing provider The Work Connection, which has 37 branches, mainly based in the Midwest region.
The deal’s base purchase price was roughly $20m (£12.4m), paid in cash.
TrueBlue chief executive officer Steve Cooper says TWC’s operations will be merged with those of its Spartan Staffing brand during the fourth quarter of this year to expand TrueBlue’s light industrial service line.
TWC co-founder Jeffrey Z Wold will join TrueBlue as part of its management team.
TrueBlue expects the acquisition to contribute an additional $90m in revenue throughout next year, which would represent a rise of about 5% on the most recently-reported Q2 2013 revenues of $422m.
TrueBlue’s previous acquisitions include specialist Crowley Transportation Services in June this year, and the February purchase of general recruiter MDT, when it said it would continue to look for acquisition opportunities.
The deal’s base purchase price was roughly $20m (£12.4m), paid in cash.
TrueBlue chief executive officer Steve Cooper says TWC’s operations will be merged with those of its Spartan Staffing brand during the fourth quarter of this year to expand TrueBlue’s light industrial service line.
TWC co-founder Jeffrey Z Wold will join TrueBlue as part of its management team.
TrueBlue expects the acquisition to contribute an additional $90m in revenue throughout next year, which would represent a rise of about 5% on the most recently-reported Q2 2013 revenues of $422m.
TrueBlue’s previous acquisitions include specialist Crowley Transportation Services in June this year, and the February purchase of general recruiter MDT, when it said it would continue to look for acquisition opportunities.
