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RSTW
Partners III, L.P. Invests $20.0 Million in Employbridge Holdings Company,
Inc.
Atlanta, Georgia - January 24,
2001 – Today, Rice
Sangalis Toole & Wilson, through its RSTW Partners III, L.P. fund, closed
a $20.0 million senior subordinated debt investment in Employbridge Holding
Company, Inc. (“Employbridge” or the “Company”), one of the largest
privately held commercial staffing companies in the United States.
Employbridge is the holding company created by a joint investment of
the Company’s management and Atlanta-based private equity group, Cravey,
Green and Wahlen, who, through the CGW Southeast Partners IV fund, jointly
acquired the commercial staffing operations of Career Blazers, Inc. on October
29, 2000. A senior bank syndicate
agented by Bank of America, N.A. and including Fleet National Bank and Heller
Financial, Inc. established $60.0 million of senior facilities in conjunction
with CGW’s acquisition.
Headquartered
in Atlanta, Georgia, Employbridge maintains commercial staffing operations
under the Staffing Solutions, Personnel One, and ProDrivers
brand names. Additionally they have specialty divisions of TeleSource,
Resource MFG
Medical Solutions
and ProLogistix.
Each line of business specializes in providing temporary, temp-to-perm
and permanent-placement labor to a specific category of companies.
Staffing Solutions focuses on
providing labor to distribution, manufacturing, assembly, and other light
industrial companies. Personnel
One focuses on administrative and clerical positions.
ProDrivers focuses on
commercially certified truck driving positions.
TeleSource caters to the
call-center industry. Resource MFG
focuses on skilled manufacturing positions, ProLogistix specializes in connecting employers and employees in the
logistics industry, and Medical Solutions focuses on the administrative
support for the medical industry.
According
CEO to Tom Bickes, “We are very pleased to have RSTW as one of our important
financial partners. Employbridge
will focus on growth in the large commercial sector of the staffing industry.
With the continued support from CGW, RSTW, and our senior lenders we plan to
triple our size in the next five years. Our
growth will come from same store market penetration, internal expansion, and
strategic acquisitions.”
In
total, the Company operates out of 142 branch locations encompassing a
19-state region across the southern United States, including Nevada, Arizona,
Utah, Colorado, New Mexico, Texas, Oklahoma, Kansas, Missouri, Minnesota,
Tennessee, Kentucky, Virginia, Alabama, Indiana, North Carolina, South
Carolina, Georgia and Florida. The
Company’s 142 branches are located and designed to cater to recruiting and
training temporary employees. On
average, the Company has 13,000 temporaries assigned to jobs on a weekly
basis. The Company employs over
750 staff personnel who embrace an operating culture that is intensely focused
on customer satisfaction. Branch,
regional and executive management are continuously working with clients in a
consultative approach to optimize labor efficiency, workflow and staffing mix.
Through its VIP program, the Company has dedicated offices located at
over 65 of its largest clients, thereby lowering these companies’ overhead
related to labor administration.
A
cornerstone of management’s philosophy is to seek out higher quality
individuals for placement in specific assignments, thereby improving the
overall satisfaction between the employer and the employee.
This serves to improve job satisfaction and performance, resulting in
lower turnover, a more efficient workplace and improved operating results for
Employbridge’s clients.
More
information can be found on the Company’s web site www.employbridge.net.
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