M&A Deal Summary

Labor Ready Northwest Acquires CLP Resources

On May 27, 2005, Labor Ready Northwest acquired staffing company CLP Resources from Baird Capital and Chicago Growth Partners for 46M USD

Acquisition Highlights
  • This is Labor Ready Northwest’s 1st transaction in the Staffing sector.
  • This is Labor Ready Northwest’s largest (disclosed) transaction.
  • This is Labor Ready Northwest’s 1st transaction in the United States.
  • This is Labor Ready Northwest’s 1st transaction in Nevada.

M&A Deal Summary

Date 2005-05-27
Target CLP Resources
Sector Staffing
Buyer(s) Labor Ready Northwest
Sellers(s) Baird Capital
Chicago Growth Partners
Deal Type Add-on Acquisition
Deal Value 46M USD

Target

CLP Resources

Reno, Nevada, United States
website
CLP Resources, Inc. provides skilled tradesmen, including carpenters, electricians, drywallers, etc., on a temporary basis to the construction industry.

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Buyer(S) 1

Buyer

Labor Ready Northwest

Tacoma, Washington, United States

website


Category Company
Sector Staffing
DESCRIPTION

Labor Ready is the supplier of temporary employees to blue collar labor markets in the U.S. and abroad. The Company had built a high-growth business around the concept of providing low-skilled and semi-skilled temporary workers to industrial businesses through local labor halls.


DEAL STATS #
Overall 1 of 1
Sector (Staffing) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Nevada) 1 of 1
Country (United States) 1 of 1
Year (2005) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 2

SELLER

Baird Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 3.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Baird Capital Partners (BCP) is the US private equity arm of Baird Private Equity. BCP makes investments in middle-market companies based in the US. BCP targets companies valued between $25 and $125 million and looks to invest between $15 and $35 million of equity per transaction. BCP focuses on three primary areas including business services (transaction processing, process outsourcing, professional services), healthcare (outsourcing services, medical products, contract manufacturing), and manufactured products (industrial/commercial, specialty consumer, distribution). BCP is affiliated with Baird Capital Partners Europe, Baird Capital Partners Asia, Baird Venture Partners, and Granville Baird Capital Partners. Baird Capital Partners is based in Chicago, Illinois.


DEAL STATS #
Overall 12 of 50
Sector (Staffing) 2 of 2
Type (Add-on Acquisition) 8 of 31
State (Nevada) 1 of 1
Country (United States) 12 of 44
Year (2005) 1 of 1
Size (of disclosed) 9 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-22 Qualitor

Southfield, Michigan, United States

Qualitor is a supplier of branded aftermarket safety and wear products for the automotive aftermarket. Qualitor provides wiper blades and auto care accessories, as well as brake hardware and related components.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-01 Accume Partners

Mount Laurel, New Jersey, United States

Accume Partners is a provider of internal auditing, IT auditing, Sarbanes-Oxley compliance and related risk management services. Accume Partners was founded in 1994 and is based in New Jersey City.

Buy -
SELLER

Chicago Growth Partners

Chicago, Illinois, United States

website


Category Growth Capital Firm
Founded 2004
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Chicago Growth Partners LLC (CGP) was a Chicago-based based private equity firm that provided expansion and buyout capital to middle-market companies generating sales of $15 to $150 million. CGP sought to invest in business services, consumer services, healthcare products/services, and industrial companies. CGP was formed in 2004 as a spin-off of William Blair Capital Partners, the investment group of investment bank William Blair. In 2014, the Firm ceased operations.


DEAL STATS #
Overall 6 of 34
Sector (Staffing) 1 of 2
Type (Add-on Acquisition) 2 of 15
State (Nevada) 1 of 1
Country (United States) 4 of 31
Year (2005) 1 of 3
Size (of disclosed) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-19 POINT Biomedical

San Carlos, California, United States

POINT Biomedical Corporation is developing novel technology platforms for imaging and drug delivery applications. Upon completion of Phase 2 trials, CardioSphere, an ultrasound-imaging agent for assessing myocardial perfusion, will be entering Phase 3 clinical testing in the United States. At the outcome of the Phase 3 trials, CardioSphere could allow a cardiologist to determine the state of a patient's coronary artery circulation in the office setting, without the use of radioactive isotopes.

Buy $27M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-25 Corporate Project Resources

Chicago, Illinois, United States

Corporate Project Resources, Inc. is a provider of interim and permanent marketing professionals.

Sell -