Lincoln International's Business Services Group Represents Sembler Investments in the Sale of Skilled Services Corporation to Labor Ready
CHICAGO, May 14, 2007 Lincoln International, a leading mid-market investment bank, today announced the sale of Skilled Services Corporation (Skilled Services), a private company portfolio holding of Sembler Investments (Sembler), to Labor Ready, Inc. (NYSE: LRW). Lincoln International acted as the exclusive financial advisor to Sembler in the transaction.
Founded in 1993, Skilled Services is a skilled construction trades staffing provider serving the commercial, government and multi-family residential construction markets with 21 locations in Florida, Texas, Arizona, California, Colorado, and North Carolina. Skilled Services has established a leadership position within its markets through its very strong value proposition for clients, its positioning as an employer of choice for skilled trades staffing, and a focus on large multi-regional and national commercial contractor customers. The Company utilizes sophisticated systems and practices for candidate screening, sales management, safety training, workers compensation cost management and customer credit monitoring.
The advisory relationship Lincoln International provided our shareholders in this transaction was exceptional. Lincoln's team brought constant focus and in-depth industry and deal experience that resulted in top value for Skilled and yet fashioned a win-win transaction for buyer and seller alike, said Sembler Investments CFO, Richard Mocsari. Labor Ready entered the skilled construction staffing market with its acquisition of CLP Resources in 2005. The Skilled Services acquisition accelerates CLP's expansion by increasing the total number of branches to 93 and adding Skilled Services talented management team to the organization.
About Lincoln International
Lincoln International specializes in merger and acquisition advisory services and private capital raising for leading organizations involved in mid-market transactions. With offices in Chicago, Frankfurt, Los Angeles, New York, and Paris, and strategic partnerships with China Everbright and other partner firms in Asia, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise, and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
About Sembler Investments
Sembler Investments, founded in 1989 and headquartered in St. Petersburg, Florida, is a privately held firm focused on principal investing in corporate private equity and real estate. The firm's corporate investments are focused on the middle market segment across a variety of industries; and its real estate activities include acquisition, development and management of real estate assets across a selection of product types. More information about Sembler Investments can be found at: www.semblerinvestments.com
About Labor Ready
Labor Ready is an international provider of temporary employees for manual labor, light industrial and skilled construction trades, operating under the brand names of Labor Ready, Labour Ready, Workforce, Spartan Staffing, and CLP Resources. For additional information, visit Labor Ready's website at www.laborready.com.
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