Access Capital provided a credit facility to staffing firm Employee Relations Associates (ERA) in the amount of $7.5 million consisting of a $5 million revolver and a $2.5 million term loan.
The term loan was to support ERA’s acquisition of Talent Bridge, a premier executive recruiting and staffing organization specializing in accounting, finance, administrative and engineering placements.
Thomas Ioele, ERA’s CEO, said of the transaction, “I was blown away at the speed, professionalism and the level of understanding of our business that each person we met from Access Capital had. With little notice, the Access Capital team was able to expedite our transaction quickly because they already knew our business and we didn’t have to take the time to educate them on what we do. Our experience from start to finish was exceptional. I can’t think of a better company to have partnered with.”
ERA serves clients across the country offering temporary, temp-to-hire and professional placement across diverse technical and administrative disciplines.
The acquisition will expand ERAs’ services to the southeastern U.S. and add $40 million to ERA’s annual revenue base of $43 million.