Victory Park Announces Sale of Global Employment Solutions
Victory Park Capital (VPC), an asset management firm focused on middle-market debt and equity investments, announced the sale of its portfolio company, Global Employment Solutions to TZP Group, a private equity firm focused on control investments in business and consumer services companies. The terms of the transaction were not disclosed.
Founded in 1998, Global offers contract and permanent placement staffing services under two brands: Fahrenheit IT, which provides customized IT staffing solutions; and Global Employment Solutions, which provides temporary and permanent staffing services across multiple professional segments.
After being taken private by VPC in 2009, the company underwent a significant strategic repositioning by expanding its business strategy into new high growth markets through the execution of four acquisitions, six de novo office openings, and one non-core divestiture.
“Since acquiring the company in late 2009, Global has witnessed strong growth as Howard Brill and his team executed on a successful strategic realignment aimed toward building a leading human capital solutions platform. We worked closely with the Global team to divest non-core divisions, consummate add-on acquisitions, and establish new offices in an effort to transform the service offering and expand geographic footprint,” said Matthew Ray, partner at VPC. “During our ownership, the company consistently capitalized on emerging industry dynamics and is now well positioned for continued growth. It has been an honor and a privilege to work alongside the management team at Global and we wish them the best for the future.”