M&A Deal Summary

The Blackstone Group Acquires Tradesmen International

On January 3, 2017, private equity firm The Blackstone Group acquired staffing company Tradesmen International from Wellspring Capital Management

Acquisition Highlights
  • This is The Blackstone Group’s 4th transaction in the Staffing sector.
  • This is The Blackstone Group’s 135th transaction in the United States.
  • This is The Blackstone Group’s 4th transaction in Ohio.

M&A Deal Summary

Date 2017-01-03
Target Tradesmen International
Sector Staffing
Buyer(s) The Blackstone Group
Sellers(s) Wellspring Capital Management
Deal Type Secondary Buyout
Advisor(s) Robert W. Baird & Co., Inc. (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target

Tradesmen International

Macedonia, Ohio, United States
Tradesmen International is a provider of contingent skilled craftsmen to commercial construction and industrial contractor customers across 93 offices in 39 states and Canada. Tradesmen International was formed in 1992 and is based in Macedonia, Ohio.

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Buyer(S) 1

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.


DEAL STATS #
Overall 214 of 336
Sector (Staffing) 4 of 4
Type (Secondary Buyout) 33 of 80
State (Ohio) 4 of 5
Country (United States) 135 of 211
Year (2017) 1 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-23 International Tractors

New Delhi City, India

International Tractors is a manufacturer of tractors and agricultural machinery. Established in 1995, International Tractors (ITL) is the flagship company of farm equipment manufacturer Sonalika Group. It produces tractors of up to 90 horsepower under the Sonalika Tractors and Renault Ceres Tractors brands, the latter a result of a joint venture with Renault Agriculture of France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-04 SESAC

Nashville, Tennessee, United States

SESAC is a Music Rights Organization that administers public performance, mechanical, synchronization and other rights. SESAC offers singular licenses for the works of its affiliated writers and publishers that aggregate both performance and mechanical rights in order to drive greater efficiency in licensing for music users, as well as enhanced value for music creators and publishers. SESAC was founded in 1930 and is based in Nashville, Tennessee.

Buy -

Seller(S) 1

SELLER

Wellspring Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Wellspring Capital Management is a mega-sized private equity firm that focused on a variety of transaction situations. The Firm will consider buyouts of private companies, acquisitions of divisions or subsidiaries of public companies, shareholder liquidity needs, partnering with entrepreneurs for growth opportunities, and special situations. Wellspring does not have any sector preferences and is capable of pursuing transactions valued up to $1 billion. Wellspring Capital Management was formed in 1995 and is based in New York City.


DEAL STATS #
Overall 28 of 37
Sector (Staffing) 2 of 3
Type (Secondary Buyout) 10 of 15
State (Ohio) 4 of 4
Country (United States) 24 of 33
Year (2017) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-29 Great Lakes Caring

Jackson, Michigan, United States

Great Lakes Home Health Services, Inc. (dba Great Lakes Caring) is a provider of home health care, hospice care, as well as home medical equipment, daily to more than 6,000 patients throughout the Midwest. Great Lakes Caring, based in Jackson, Michigan, offers a broad range of services within the continuum of in-home health care including home health, hospice, home-based primary care, palliative care and private duty services. The company was founded in 1994 by Cherilyn Deary, and has built its business on a patient-centric commitment to superior quality and innovation. Great Lakes Caring has become one of the highest rated home health and hospice companies in the country, developing and implementing its products and services throughout the Midwest. The company employs more than 2,600 health care professionals in 25 offices, providing superior quality home health care, hospice care, palliative care as well as home-based primary care and private duty services to more than 9,000 patients daily.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-05 Crosman

Bloomfield, New York, United States

Crosman Corp. is a manufacturer of airguns and accessories. Crosman offers a complete line of airguns, paintball guns, slingshots, targets, and other accessories under the brand names of Crosman, Benjamin, Sheridan, and Copperhead. Crosman was established in 1923 and is based in Bloomfield, New York.

Sell $152M