Citizens Financial : Advises WorkN on its Acquisition by Avionté

09/23/2021

PROVIDENCE, RI- Citizens M&A Advisory announced today that it served as the exclusive financial advisor to WorkN, a mobile on-demand staffing platform, on its acquisition by Avionté, a portfolio company of Serent Capital. This acquisition represents Citizens' 17th Human Resources Technology transaction and second with Avionté.

WorkN's SaaS platform offers an engaging mobile experience for staffing and recruiting, which is fast becoming a critical element in talent enablement. They help organizations create custom, white-labeled apps that allow for comprehensive in-app experiences for candidates and workers.

By acquiring WorkN, Avionté - a leader in enterprise staffing and recruiting software solutions - gains ground on its commitment to provide its customers with end-to-end talent enablement and candidate experience technology.

WorkN, operating as a division of Avionté, will continue to serve large enterprise staffing companies and employers, a market in which WorkN already has penetration and momentum. At the same time, WorkN will gain access to Avionté's customer base of more than 1,000 staffing companies.

Jakob Rohn, co-founder of WorkN, said: "WorkN is delighted to have had the guidance of the Citizens team leading our successful sale of the company to Avionté. The team's passion for a fair and smooth process with all parties was critical in the success of our strategic merger."

Scott Rhodes, managing director at Citizens, said: "The management team at WorkN has built a fast-growing SaaS business facilitating recruiting for the staffing agencies and employers, and we are thrilled to work with them on strengthening this existing partnership with Avionté."

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 $185.1 billion in assets as of June 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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