Case Study

Newport Transaction Advisors, LLC served as exclusive financial advisor to PTS acquisition by Kelly Services

Newport Transaction Advisors (Newport), the transaction advisory subsidiary of Newport, LLC, a leading lower middle market advisory firm, is pleased to announce it served as the sole and exclusive financial advisor to Pediatric Therapeutic Services (PTS) in its sale to Kelly Services (Nasdaq: KELYA and KELYB) (Kelly).   PTS is a specialty firm that provides and manages state and federally mandated in-school services including occupational therapy, physical therapy, mental health, speech-language pathology, and behavioral health services.

Although terms of the transaction have not been disclosed, David Traversi, Managing Director of Newport’s  M&A Advisory Group, noted, “The PTS transaction was as ideal in its execution as any transaction I have managed over a 30-year career.  PTS was well-conceived, -organized and -managed, with a solid market strategy, state-of-the-art systems, and premier talent from top to bottom.  We were able to expediently assess their capital market opportunities and, once it was decided to explore a sale, move quickly to prepare them for a transaction and then go to market with an institutional-quality marketing package targeting top-tier strategic and financial investors.  Kelly quickly emerged as the most suitable acquiror, viewing PTS as an ideal match for their growth objectives in the education space and their strong value set.

“PTS was squarely within Newport’s focus on the lower middle market.  We work with clients to determine their readiness for a transaction, help them if work is needed before accessing the markets, and then, when they are ready, accessing the market with an institutional-quality approach, something that is not broadly available to lower middle market companies.”

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