TMP Worldwide has been sold to TrueBlue
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that it has represented the shareholders of TMP Holdings Limited (“TMP”), in its sale to U.S.-listed TrueBlue, a leading provider of specialised workforce solutions, including staffing, workforce management and recruitment process outsourcing (“RPO”).
TMP, which operates in the U.K. under the brand name TMP Worldwide, is the U.K.’s leading provider of employer branding, resourcing and RPO and recruitment communications services to both the public and private sectors. With employees spread across two business hubs in London and Bristol, TMP helps dozens of organisations build their talent pipelines.
TMP will be integrated into PeopleScout, TrueBlue’s RPO segment. The acquisition creates a powerful talent advisory offering for PeopleScout’s international client base and expands its global RPO capabilities and EMEA offering. TMP’s London headquarters will serve as PeopleScout’s EMEA headquarters and TMP’s Bristol delivery centre will join PeopleScout’s global delivery centre network which supports clients in more than 70 countries.
Lincoln supported the shareholders of TMP, as the exclusive mergers and acquisitions advisor, using its international expertise to successfully bring this cross-border deal to completion. Lincoln provided guidance on strategic options, marketing materials, process tactics and key negotiations by using its extensive transaction experience in the recruitment and workforce management sector, and the knowledge of the strategic buyer community.
Edward Lethbridge, Managing Director and head of Lincoln’s UK Business Services Group commented, “Uniquely, TMP has developed a highly regarded RPO proposition from its world-class expertise in employer branding and communications. TrueBlue recognised TMP’s enormous potential and valued the quality of TMP’s experienced management team.“
The transaction adds to Lincoln’s strong transaction credentials in the recruitment / RPO services sector.
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