04/26/2023
Citizens Advises PeopleShare on its Sale to PROMAN Group
PROVIDENCE, RI – Citizens M&A Advisory announced today that it served as the exclusive financial advisor to PeopleShare, a workforce solutions provider, on its sale to PROMAN Group, Inc.
PeopleShare is a leading clerical and light industrial workforce solutions provider, employing approximately 3,000 workers daily. PeopleShare was a portfolio company of Trivest Partners, a Miami-based middle-market private equity firm. PROMAN Group is an independent, family-run company and Europe's fourth-largest temporary work and human resources agency.
Steve Reynolds, Trivest partner, said: “Citizens delivered an exceptional outcome for Trivest and PeopleShare in a difficult market. They demonstrated a thorough understanding of the business and ran a competitive process. We greatly appreciate the efforts made by Alan Bugler and the entire Citizens team.”
Alan Bugler, Citizens M&A Advisory managing director, said: “We appreciate the opportunity to work with both the Trivest and PeopleShare teams on this transaction. PeopleShare is a great asset with an outstanding team, culture and track record. The acquisition by PROMAN brings together two premier brands in the sector, and we are excited to watch their combined success going forward.”
Citizens Capital Markets & Advisory specializes in mergers and acquisitions, debt capital markets, equity capital markets and risk management solutions. Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens M&A team has more than 150 professionals specializing in a range of industries across the United States. Citizens Capital Markets & 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 $222.3 billion in assets as of March 31, 2023. 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 more than 1,100 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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