Citizens Financial : Advises P2P Staffing on its Recapitalization by Alvarez & Marsal Capital Partners

01/12/2022

PROVIDENCE, RI - Citizens M&A Advisory announced today that it served as the exclusive financial advisor to P2P Staffing Corporation, a leading IT and locum tenens staffing firm, on its recapitalization by Alvarez & Marsal Capital Partners ("AMCP"), a Greenwich, Conn.-based private equity firm. AMCP's investment represents the first institutional capital raised by the company and will help fuel its continued growth in the staffing industry.

P2P Staffing provides professional staffing services under two highly visible brands: TekPartners and MPLT Healthcare. TekPartners was founded in 2002 and provides technology contract staffing, professional services and infrastructure solutions. MPLT Healthcare provides multi-specialty locum tenens and locum-to-perm services.

"The Citizens team helped us identify the right partner, and we are very pleased with the results," said Jay Bevilacqua, chief executive officer of P2P Staffing Corporation. "I found them to be knowledgeable, organized and highly professional as they guided us through the selection process that ultimately led us to Alvarez & Marsal Capital Partners. We are looking forward to a bright future for P2P Staffing Corporation as a result."

Tom Donahue, managing director of Citizens, said: "P2P is a unique human capital management platform offering in-demand IT services as well as specialty locum tenens. The company has successfully provided solutions for large enterprise clients for approximately 20 years. The partnership between AMCP and the P2P leadership team is going to be very exciting over the next few years."

Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has more than 130 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens Capital Markets, Inc., a subsidiary of Citizens Financial Group (NYSE: CFG).

About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $187.0 billion in assets as of September 30, 2021. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,000 ATMs and approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities.

More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.

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