Trivest announces sale of PeopleShare
MIAMI–(BUSINESS WIRE)–#privateequity–Trivest Partners LP (“Trivest”), a leading private equity firm focused on investing in founder and family-owned businesses, today announced that Trivest Fund V, along with PeopleShare co-founders Dave Donald and Ryan Clark and its employee shareholders, have completed the sale of its portfolio company PeopleShare (“PeopleShare” or the “Company”) to PROMAN, the U.S. based subsidiary of Groupe PROMAN, one of the largest staffing firms globally (“PROMAN”). Ryan Clark (CEO) and Dave Donald (Senior Advisor) will continue to lead PeopleShare and will work with PROMAN CEO, Gilles Tanneur, to further strengthen PROMAN’s U.S. presence.
Headquartered in Collegeville, PA, PeopleShare is one of the largest providers of commercial temporary staffing services in the eastern United States. From its 40 branches in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, North Carolina, South Carolina and Illinois, the Company provides temporary, temp-to-hire and contingent workforce solutions for light industrial and office and clerical positions. During its partnership with Trivest, the Company more than tripled its number of branches through new openings and acquisitions, while entering five new states. After successfully navigating the Covid-19 pandemic, the Company continued its expansion plans in 2022 by entering another new market, North Carolina, and achieving record revenue and earnings.
Ryan Clark and Dave Donald, Co-Founders of PeopleShare stated, “We selected Trivest as our partner over several other parties because we had confidence in their unmatched reputation for working with and growing founder-led businesses. Trivest supported our ambitions fully to aggressively expand our business to new markets while preserving the unique office model and go-to-market strategies that defined our business.”
Steve Reynolds, Partner at Trivest, added, “Dave and Ryan and their team were great partners and executed on every aspect of Trivest’s Path to 3x value creation program. We thank them for their dedication to creating a great outcome for all involved, and we look forward to watching PeopleShare’s continued growth story as part of the PROMAN family.”
Citizens M&A Advisory served as the exclusive financial advisor to PeopleShare on the sale transaction, and Holland & Knight LLP served as PeopleShare’s legal counsel.
ABOUT PEOPLESHARE
From its 40 offices across the Mid-Atlantic and Midwestern U.S., PeopleShare provides temporary, temp-to-hire and contingent workforce solutions for light industrial and office & clerical positions, primarily to small and medium sized businesses. Additionally, the Company has developed strategic customer programs to service select national and regional clients. The Company’s customers value PeopleShare’s ability to quickly and consistently deliver high-quality employees from its deep pool of local candidates. PeopleShare is headquartered in Collegeville, Pennsylvania. To learn more, visit www.peopleshareworks.com
ABOUT TRIVEST
Trivest Partners LP is a private investment firm headquartered in Miami with regional presence in Charlotte, Chicago, Los Angeles, Philadelphia, and Toronto, that focuses exclusively on the support and growth of founder-led and family-owned businesses in the United States and Canada in both control and non-control transactions. Since its founding in 1981, Trivest has completed more than 500 investments, totaling nearly $8 billion in value. To learn more, visit www.trivest.com
Contacts
Steve Reynolds
305-858-2200
