Hyde Park Capital Announces Sale of Greenwood/Asher & Associates, Inc. to Kelly Services (NASDAQ: KELYA)

Tampa, Florida – November 24, 2020 - Hyde Park Capital Advisors, LLC is pleased to announce the sale of Greenwood/Asher & Associates, Inc. to KellyServices USA, LLC (NASDAQ: KELYA). Hyde Park Capital served as the exclusive investment banker to Greenwood/Asher for and initiated this transaction.

Hyde Park Capital Senior Managing Director John H. Hill, Jr. commented, “We are excited to see Greenwood/Asher, the premier higher education executive search firm in the industry, combine with the leading human capital management company in the education sector. We are confident that this transaction will assure the continued legacy of integrity and excellence for Greenwood/Asher that Jan and Betty were hoping to accomplish for their employees and clients. We appreciate the confidence and trust that Jan and Betty had in us during challenging and unique times in both the higher education arena and capital markets.”

Peter Quigley, president and CEO, Kelly commented,“Across the education landscape, the need for talent has never been greater, and Kelly has been diligently identifying adjacencies and growth opportunities to meet the increased demand for experienced education professionals. With the addition of Greenwood/Asher, we are formally expanding our solutions beyond K–12 and into the higher education space.”

“Founders Jan Greenwood and Betty Asher, and their team of dedicated consultants, researchers, and support staff built their practice into a premier executive search firm," said Nicola Soares, president of Kelly Education. “Together with Greenwood/Asher, Kelly will identify, develop, and place toptalent across the entire education segment.”

Jan Greenwood, Ph.D., Partner, President, and CEO of Greenwood/Asher said “When considering the possibility of selling our company and identifying an investment banking firm that could excel at matchmaking us with possible buyers, Hyde Park Capital was highly recommended to us by our wealth advisors at Merrill Lynch. One of the most important considerations for us was a firm that understood and valued our company’s culture, uniqueness in our specialized industry, brand, and the legacy we have created for our employees, affiliates,and clients.  John Hill and his team at Hyde Park Capital demonstrated incredible patience and guidance, creativity, and focus and completed a sale during the Covid-19 crisis. We are probably one of a limited number of companies that completed all aspects of a sale without the buyers and sellers meeting in person and accomplishing everything through technology including Zoom and MS Teams meetings. This speaks to Hyde Park’s team being effective in establishing trust for everyone involved, their business competence, the art of deal making, and human relationship skills.”

About Greenwood/Asher

Founded in 2003 and headquartered in Miramar Beach, FL, Greenwood/Asher is a leading executive search, consulting, and training firm with significant experience in the higher education market. Greenwood/Asher places university presidents, chancellors, deans of colleges, faculty heads, administration roles, and other positions across the higher education space. With over 2,000 searches successfully executed and over 500 years of combined non-profit and education experience, the firm has a notable reputation in the market. For additional information, please visit www.greenwoodsearch.com.

About Kelly Services

Founded by William R. Kelly in 1946, Kelly Services provides workforce solutions to clients in various industries. With over 7,000 employees and over $5 billion in revenue in 2019, Kelly Services is a leading publicly traded human capital management company offering a broad range of services. Kelly connects talented people to companies in need of their skills in areas including Science, Engineering, Education, Office, Contact Center, Light Industrial, and more.  We are always thinking about what’s next in the evolving world of work, and we help people ditch the script on old ways of thinking and embrace the value of all workstyles in the workplace. We directly employ nearly 440,000 people around the world, and we connect thousands more with work through our global network of talent suppliers and partners in our outsourcing and consulting practice. For additional information, please visit www.kellyservices.com.

About Hyde Park Capital

Hyde Park Capital is an institutionally focused investment banking firm specializing in mergers and acquisitions and serving the corporate finance needs of middle market public and private companies.  Its principals have extensive investment banking experience executing merger and acquisition engagements, including purchase and sale of company assignments, recapitalizations, financial advisory, fairness opinions and raising growth capital and acquisition financing for companies, including equity, mezzanine, and senior debt. Hyde Park’s bankers have significant experience in the human capital management (HCM) sector more broadly and have closed transactions in connection with staffing, recruiting, executive search, payroll, benefits and PEO business models. Hyde Park Capital is headquartered in Tampa, Florida and is a member of FINRA and SIPC.  For additional information, please visit www.hydeparkcapital.com.

Client Testimonials

"Hyde Park’s team guided us through the process, providing us with a number of high quality counter-parties, and supported us through the transaction structuring, negotiation and due diligence. We are very pleased with the outcome and excited for the future of DTS.”
Allen Ibaugh, Co-Founder and CEO of Data Transfer Solutions
“We enjoyed working with Hyde Park Capital and appreciated their M&A expertise in the technology services sector and their help on this important transaction.”
Chris Toepke, CEO of Trifecta
“We very much appreciated the assistance of Hyde Park Capital on this strategic acquisition for ITE. Their M&A experience was quite helpful to our team and the overall process and assured the deal was well executed and we got it closed on schedule.”
Scott Dols, CEO of Industrial Truck & Equipment, LLC
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