Ravinia Capital Advises in Staffing Company Sale
Ravinia Capital announced that it advised Employment Plus in its sale to a strategic partner. Ravinia Capital, led by Founder and Managing Director Tom Goldblatt and Director Eric Welchko, structured the transaction, provided advisory services, oversaw the marketing of the company, and managed the negotiations, due diligence and final closing stages of the transaction, which was completed on October 21, 2013.
“At a time when demand for staffing services is growing rapidly, it was imperative to find the right partner for Employment Plus that would create a new company whose value would be greater than the sum of the two entities,” Goldblatt said. “The two companies are culturally compatible, share complementary business strategies and will have an important geographic footprint.”
Employment Plus, which was founded in 1993 and had 2012 revenues of $345 million, is recognized for its award-wining staffing, professional and technical recruiting, and innovative contingent workforce solutions. It was identified by the Staffing Industry Analysts (SIA) as the nation’s fastest growing staffing firm among those with revenues exceeding $100 million.
“Ravinia Capital brought exceptional problem solving skills, original thinking and tenacity to complete this transaction,” said Employment Plus President Mike Ross who will continue on the executive team of the combined company. “We look forward to a future of opportunities and growth, as we continue to provide excellent customer service.”