Daily News: March 18, 2015

Citizens Closes $180MM Financing for Select Staffing

Citizens Bank announced, in its role as joint lead arranger and co-collateral agent, that it has closed on $180 million in financing to support Santa Barbara, CA-based Select Staffing’s merger with Atlanta-based EmployBridge.

The combined company will operate the businesses under their existing brand names and will be headquartered in Atlanta with significant corporate operations centers in Santa Barbara, CA, Irving, TX and throughout other centers in the U.S. The merger brings together two strong staffing companies with highly complementary geographic footprints and approximately $3 billion in combined annual revenue.

“We are pleased to help finance Select Staffing’s merger with EmployBridge,” said Chris Carmosino, president of Business Capital at Citizens Commercial Banking. “We look forward to working with management of the combined company in the future.”