Hyde Park Capital Announces Sale of MDT Personnel to TrueBlue
Tampa, FL – February 7, 2013 – Hyde Park Capital Advisors, LLC (“Hyde Park Capital”) is pleased to announce the sale of MDT Personnel, LLC (“MDT”), the third-largest general labor staffing firm in the U.S. with 105 branches and 15 on-site locations in 25 states, to TrueBlue, Inc. (NYSE:TBI). Headquartered in Clearwater, Florida, MDT supplies blue-collar labor to the construction, event staffing, disaster recovery, hospitality and manufacturing industries. TrueBlue will expand the size of its general labor business by integrating MDT’s operations with those of its own. Hyde Park Capital served as the investment banker and financial advisor to MDT in the transaction. “We appreciate the opportunity to work with MDT and its excellent staff,” said John Hill, Senior Managing Director at Hyde Park Capital. “MDT and TrueBlue make a great fit. The acquisition will enable the combined company to service its customers’ needs even more effectively going forward and maintain a dominant position in the marketplace.” “We’re very proud of what we accomplished at MDT and that we had built a company that caught TrueBlue’s eye,” said Mike Traina, MDT CEO. “Hyde Park Capital played an instrumental role in negotiating, structuring, and closing this transaction for our shareholders. We could not be more pleased with the firm’s dedication to this deal and its ability to help get it done.”
TrueBlue, Inc. is a leading provider of blue-collar staffing. In 2012, TrueBlue connected approximately 350,000 people to work through the following brands: Labor Ready, Spartan Staffing, CLP Resources, PlaneTechs, and Centerline, and served approximately 140,000 businesses in the retail, service, wholesale, manufacturing, transportation, aviation, and construction industries. TrueBlue, Inc. is headquartered in Tacoma, Wash. More information is available at www.trueblue.com.
About Hyde Park Capital
Hyde Park Capital is a middle-market investment banking firm specializing in mergers and acquisitions and capital raising for public and private companies. Our senior bankers have extensive investment banking experience executing merger & 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 Capital has broad experience across multiple industries and a specific focus on technology, healthcare, business and financial services. In its fourteenth year, Hyde Park Capital is one of the most active investment banking firms in Florida and the Southeast. Our professionals have advised on more than 300 corporate investment banking transactions totaling more than $10 billion in transaction value. We are headquartered in Tampa, Florida and are a member of FINRA and SIPC. For additional information about Hyde Park Capital, visit www.hydeparkcapital.com or call (813) 383-0202.