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
[email protected]

Joele Frank
Michael Freitag / Aaron Palash
212-355-4449

SOURCE Tradesmen International