Transaction Strengthens Financial Position by
Reducing Debt
Reinforces Tradesmen's Position as Industry's
Largest Skilled Staffing Firm
CLEVELAND, July 8, 2024
/PRNewswire/ -- Tradesmen International® ("Tradesmen" or
"the Company"), an industry leader in skilled trades staffing and
labor-cost containment solutions, today announced a transaction
that significantly reduced the Company's debt, positioning the
business for continued growth.
Marty Wick, Chief Executive
Officer of Tradesmen International, said, "Tradesmen has a strong
business built on the expertise of our workforce, delivering
industry-leading skilled labor to fulfill our clients' labor needs
for construction, energy, marine, residential, industrial, and
institutional projects. Widely recognized as a leader in our
industry, we were recently named by Forbes as one of America's 100
Best Recruiting and Temp Staffing Firms for 2024. Through this
transaction, we are gaining additional financial flexibility and
resources to fuel our growth so that we can continue to expand our
account executive and recruiter headcount, and enhance technology
capabilities for sales and recruiting operations. We will be even
better able to support our talented craftworkers, grow our
business, and serve our clients."
Advisors
Weil, Gotshal & Manges LLP is serving as legal advisor and
PJT Partners is serving as financial advisor to Tradesmen
International.
About Tradesmen International
Tradesmen International, an Ohio-based company, has provided contract
skilled labor to construction and industrial partners since 1992.
The company has since expanded its service focus to include
Construction, Energy, Residential, Marine, Industrial, and
Institutional businesses. Clients leverage the Company's
market-focused recruiting expertise and scale, accessing craft
professionals across trades and skill levels. The ongoing shortage
of skilled craftworkers in North
America has made this task challenging for skilled-trade
business management. In addition, Tradesmen's business model
focuses on helping clients maintain a balance between workload and
workforce to optimize workforce productivity. From a skilled craft
person's perspective, the company's relationships and recruiting
engine have led to improved job stability for craftworkers. This is
achievable as, a craftworker's current project concludes, the
employee is usually being marketed for their next assignment by a
project team of project coordinators and sales professionals. To
learn more, please visit tradesmeninternational.com.
Contacts
Daniel Christian of Tradesmen
International
Daniel.Christian@tradesmeninternational.com
Joele Frank
Michael Freitag / Aaron Palash
212-355-4449
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SOURCE Tradesmen International