10/25/2022
Citizens Advises CareerBuilder on its Sale of Workterra to Stone Point Capital-Backed Businessolver
PROVIDENCE, RI – Citizens M&A Advisory served as financial advisor to CareerBuilder, an end-to-end talent acquisition solutions provider, on its sale of Workterra to Businessolver, a benefits administration technology provider backed by Stone Point Capital, Warburg Pincus and JMI Equity.
Workterra, a benefits enrollment software provider, is a fully configurable, easy-to-use benefits administration and enrollment platform built to simplify the growing complexity of benefits for HR and employees.
CareerBuilder CEO Susan Arthur said: “We appreciated the opportunity to work with Citizens. Citizens provided a team of experts who worked with us to ensure we were able to successfully execute the transaction.”
Scott Rhodes, managing director at Citizens, said: “We have now advised CareerBuilder on three divestitures, including Textkernel and CareerBuilder Employment Screening, and we are proud to have been chosen to be a part of CareerBuilders’ sale of Workterra to Businessolver. As a result, Workterra and Businessolver will continue to be market leaders in the benefits technology industry.”
Citizens M&A Advisory specializes in middle-market mergers and acquisitions, combining sector intelligence with a client-focused approach to realize clients' true value. The Citizens team has more than 150 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens Capital Markets, Inc., a subsidiary of Citizens Financial Group (NYSE: CFG).
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $224.7 billion in assets as of September 30, 2022. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,400 ATMs and approximately 1,200 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
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