Citizens Leads $1.2 Billion Asset-Based Senior Credit Facilities for PRO Unlimited

PROVIDENCE, R.I. – Citizens announced today that it has provided financing to San Francisco-based PRO Unlimited Global Solutions Inc.

Established in 1991, PRO Unlimited is a leading provider of end-to-end contingent workforce management solutions to a broad range of global clients and has been a Citizens client for more than 10 years.

The first financing was new $900 million asset-based senior credit facilities, comprised of an $825 million asset-based revolving credit facility and a $75 million First In, Last Out (“FILO”) tranche, to support EQT Private Equity’s acquisition of the company from Harvest Partners, LP and its affiliates and Investcorp.

Immediately following the aforementioned transaction, Citizens led a $265 million upsize to the asset-based senior credit facilities to support the company’s acquisition of Workforce Logiq, a similar global provider of contingent workforce management technology and service solutions from funds managed by Carlyle.

The final $1.165 billion senior credit facilities are bifurcated between a $1.065 billion asset-based revolving credit facility and a $100 million FILO tranche. Citizens is the Lead Left Arranger on both transactions.

“The Citizens team was able to provide an attractive new capital structure that will allow PRO Unlimited and their financial sponsors to meet their strategic objectives,” said Ted Swimmer, head of Corporate Finance & Capital Markets at Citizens. “Providing senior credit facilities is just one of the ways that Citizens can deliver substantial value for clients at every stage of their business life cycle.”

Citizens is a trusted strategic and financial partner, consistently delivering clear and objective advice. The Citizens approach puts clients first by offering great ideas combined with thorough market knowledge and excellent execution to help our clients enhance their business and reach their potential.

For more information, please go to the Citizens website.

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.com or visit us on Twitter, LinkedIn or Facebook.