Access Capital provided an $8 million credit facility to SASR Workforce Solutions, a Raleigh, NC-based staffing company for the U.S. retail, warehouse, distribution and grocery sectors.
SASR’s CEO, Patrick Henderson, is a senior executive with more than 25 years of experience leading startups as well as publicly traded and private companies within staffing and healthcare. When the opportunity arose for Henderson to acquire the balance of ownership of SASR from its founder, Henderson called upon Access Capital to help in structuring a credit facility that would enable SASR to repay its former lender as well as provide a term loan to assist SASR in the redemption of the membership interests of the founder, thus resulting in Henderson’s ultimate 100% ownership.
“It was great working with the Access Capital team. They have a deep understanding of the staffing industry, which allowed them to understand our long-term strategy and assist with structuring a credit facility during a very challenging market. We truly appreciate the partnership we have with them,” Henderson said.