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Croft & Bender’s Work Connection sold to TrueBlue

Croft & Bender, an Atlanta-based investment banking and private equity firm, has sold The Work Connection to TrueBlue. Headquartered in Minneapolis, MN, The Work Connection is a provider of business staffing solutions with more than 50 locations across nine states.

PRESS RELEASE

Croft & Bender, an Atlanta-based investment banking and private equity firm, is pleased to announce the successful sale of its client, The Work Connection, Inc., to TrueBlue, Inc.
Headquartered in Minneapolis, MN, The Work Connection is a leading provider of business staffing solutions with more than 50 locations across nine states. Founded in 1986, the Company has earned a distinguished reputation for superior customer service and has developed strong client relationships. As a result, The Work Connection has become the business staffing vendor of choice for leading clients across a variety of industries.
TrueBlue, Inc. (NYSE: TBI) is a leading provider of blue-collar staffing. In 2012, TrueBlue connected approximately 350,000 people to work through the following brands: Labor Ready, Spartan Staffing, CLP Resources, PlaneTechs, and Centerline, and served approximately 140,000 businesses in the retail, service, wholesale, manufacturing, transportation, aviation, and construction industries. TrueBlue is based in Tacoma, Washington.
Croft & Bender was retained as the exclusive financial advisor to The Work Connection to assist the Company in evaluating its strategic alternatives. “Croft & Bender helped us to prepare and position our business for a successful sale process from the start. Their personalized approach and attention to detail were invaluable,” said The Work Connection President Jeff Wold. “The sale of the Company to True Blue is a great outcome for The Work Connection, our shareholders and employees.”
“The Work Connection management team built an extremely successful and well respected business over nearly three decades. We are honored to have had the opportunity to represent the Company on its sale to True Blue and are pleased with the outcome,” commented Neale Fisher, Vice President at Croft & Bender.