Daily News: August 11, 2017

TrueNorth Supports Mitsui Acquisition of Accountable Healthcare Staffing


TrueNorth Capital Partners’ subsidiary TNCP assisted Mitsui in acquiring 100% of the assets of Accountable Healthcare Staffing.

Mitsui identified healthcare as a key growth areas. In 2014, Mitsui acquired The Delta Companies, which ranks No. 24 on Staffing Industry Analysts’ list of largest healthcare staffing firms in the U.S. and eighth on the list of largest locum tenens firms in the U.S.

With the acquisition of Accountable, with 28 locations and approximately $143 million in net sales in 2016, Mitsui has created a structure capable of supplying a wide range of human-resource services for healthcare facilities, including physicians, therapists and nurses, on a temporary or permanent basis throughout the U.S.

“TrueNorth displayed a unique ability to approach-and-facilitate discussions with various target companies. Their succinct process for identifying the right group of acquisition targets and facilitating discussions with the owners-of-companies provided Mitsui with a number-of-opportunities. Accountable, however, was positioned as the ‘best fit’ for our ecosystem of healthcare companies,” said Seiki (Stan) Hirota, chairman of the Board, UHS Partners (a Mitsui subsidiary).

Accountable Healthcare Staffing is a Boca Raton, FL-based healthcare staffing provider.

TrueNorth is a boutique investment bank comprised of senior bankers providing a full complement of middle-market financial advisory services.