Daily News: September 24, 2013

BofA Business Capital Provides $85MM ABL to Seaton

Bank of America Business Capital announced it has provided a new $85 million credit facility to Seaton. Proceeds will be used to refinance debt and support working capital, and the facility has been structured to increase seasonally to fit the company’s working capital needs.

Seaton, a portfolio company of Leeds Equity Partners, is a $500-plus million outsourcing and recruiting company that operates under the Staff Management | SMX, PeopleScout and StudentScout brands. Seaton was recently recognized as America’s No. 1 job creator among privately held companies. Founded in 1988, the firm has more than 25,000 employees and operates in more than 60 countries.