Cherry Tree advises Star Collaborative
“The Cherry Tree team was instrumental in advising Star Collaborative in the process of finding the right strategic partner for our long term. Their knowledge of the IT staffing industry and experience with people, operations, finance and the sale process helped us reach a great partnership with LanceSoft. In addition, our attorneys at Fafinski Mark & Johnson were excellent, as they patiently worked to serve our best interests along with the interests of all the parties involved.”
Ed Lefkow, Co-Founder and CEO
Star Collaborative, LLC
IT Staffing, IT Services, and Business Services.
Provider of staffing and workforce management solutions.
The owner’s of Star Collaborative entrusted the right partner to advance their company to the next level. Star Collaborative engaged Cherry Tree to advise them on strategic alternatives related to the sale of the company.
Cherry Tree’s Personalized Solution
Cherry Tree leveraged its IT Services experience in the process including introductions and discussions with a number of potential strategic acquirer’s and financial partners. Cherry Tree’s personalized process for soliciting proposals, negotiating terms and supporting the due diligence process resulted in successfully closing the transaction.
The marketing process generated broad interest from a number of strategic and financial partners. The company was sold to LanceSoft, Inc, a nationally certified Minority Business Enterprise (MBE) providing highly scalable, cost-effective workforce solutions.
Star Collaborative, LLC is a leading provider of staffing and workforce management solutions. STAR has a long list of marquee clients located in the Twin Cities market and partners with some of the region’s largest enterprises.
LanceSoft, Inc. currently operates out of several locations in the US and Canada and has established itself as a pioneer in providing highly scalable, cost-effective workforce solutions to a diverse set of customers across various industries in the United States.
About Cherry Tree & Associates
Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis, Minnesota. Founded in 1980, it specializes in M&A transactions for both buyers and sellers of middle market companies. Additionally, it conducts private placements for attractive, entrepreneurially managed growth companies, provides strategic advisory services to CEOs and boards of directors, and prepares fairness opinions and other valuation services. For more information, visit Cherry Tree & Associates.