LAUNCH TWS Accelerates Growth w/Major Acquisition of PlaneTechs (w/a Backstory Twist)
March 19, 2018
Related To: LAUNCH Technical Workforce Solutions
Oak Brook, IL AND New York, NY—March 19, 2018—LAUNCH Technical Workforce Solutions (“LAUNCH”) announced today that it has acquired PlaneTechs from TrueBlue, Inc. (NYSE: TBI), further solidifying LAUNCH as one of the nation’s largest and fastest growing providers of workforce solutions to the aviation industry.A subsidiary of TrueBlue since 2007, PlaneTechs supplies mechanics and technicians to aircraft maintenance, repair, overhaul, and manufacturing companies, and has been consistently recognized as a top employer for military veterans transitioning into the aviation industry. The acquisition will add over 100,000 technicians, many with extensive commercial and military backgrounds, to LAUNCH’s rapidly expanding roster of highly skilled and coveted aviation personnel. The demand for skilled personnel by leading airlines, MROs, OEMs, and service centers continues to outpace the supply,” said Mike Guagenti, CEO of LAUNCH. “The acquisition of PlaneTechs further expands LAUNCH’s capabilities and talent pool, which is already one of the largest and deepest rosters of aviation technicians, mechanics, engineers, and professionals in the industry. As a result, we have significantly expanded our reach and enhanced our ability to deliver innovative workforce solutions to meet our customers’ needs. We’re very excited to welcome PlaneTechs’ clients and employees to the LAUNCH family.”LAUNCH has established itself as a true leader in the aviation workforce space,” commented Steve Cooper, CEO of TrueBlue. “Given its extensive resources, broad capabilities, and strong reputation, we believe LAUNCH is an ideal home for PlaneTechs’ clients and workforce, who we thank for their support and hard work while they were part of the TrueBlue family.” Genesis Capital LLC served as financial advisor to TrueBlue, Inc., while Perkins Coie LLP provided legal counsel. LAUNCH was advised by Neal & Harwell, PLC. Wells Fargo Capital Finance provided senior financing in support of the acquisition.About LAUNCHLAUNCH is the aviation industry’s fastest-growing technical workforce solution, connecting over 6,000 aviation professionals with employment every year in more than 160 locations worldwide. In addition to providing mechanics, technicians, engineers, machinists, and other skilled workers to leading airlines, MROs, OEMs, and service centers, LAUNCH provides Avionics, Structures, and AOG teams for project-based solutions worldwide. Guided by a leadership team with extensive experience in aviation and technical staffing, LAUNCH is committed to providing solutions that are innovative, customer-driven, andtechnologically advanced.
