Citizens Financial : Advises Black Diamond Networks on its Recapitalization by Tenex Capital

12/14/2021

PROVIDENCE, RI- Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Black Diamond Networks, Inc. on its recapitalization by Tenex Capital.

Founded in 1999, Black Diamond is a leading provider of professional staffing solutions exclusively focused on scarce, high-end skill sets in advanced technical verticals. Black Diamond's differentiated model focuses on rapid deployment of experienced, well-qualified personnel primarily within life sciences, as well as within the engineering and technology sectors.

Mike Sklar, chairman and co-founder of Black Diamond, said: "Citizens leveraged deep sector expertise and worked tirelessly to understand and communicate our culture, vision and growth story. The Citizens team was exceptional to work with and instrumental in securing a tremendous outcome through an efficient and highly competitive process. We could not be more thrilled with our new partners at Tenex Capital as our company begins a new chapter."

Alan Bugler, managing director at Citizens M&A Advisory, said: "The Black Diamond team has built an extraordinary and differentiated business that drives exceptional results for its customers, consultants and employees. In partnership with Tenex Capital, Black Diamond is well-positioned to continue growing and finding unique and innovative ways to serve its stakeholders. We are thrilled with the outcome for the team and are excited to follow their continued success."

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 closed more than 175 transactions in the last five years and has more than 70 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.comor visit us on Twitter, LinkedInor Facebook.

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