O2 Sponsor Finance, a division of Old Second National Bank, provided senior secured credit facilities to support Hastings Equity Partners‘ acquisition of TERRA Staffing Group.
Headquartered in Everett, WA, TERRA is a provider of staffing services for industrial, administrative and technical staffing across a wide range of industries such as industrial, consumer products, food and beverage and logistics. TERRA operates out of 18 offices across five states and provides its customers with a full suite of outsourced HR services and solutions, allowing customers to focus on other key critical areas in their organizations.
“We are excited to partner with Hastings Equity and look forward to helping support the continued growth and national expansion of the Terra Staffing Group”, Thom Karle, senior vice president at O2 Sponsor Finance, said.
NorthCoast Mezzanine provided subordinated debt financing and an equity co-investment.
