Sale to South Equity Partners
On September 14, 2009, Employbridge, a leading provider of staffing and workplace solutions, was sold to MSouth Equity Partners. The sale successfully concluded an out of court restructuring of the company's balance sheet. The company will remain headquartered in Atlanta, GA, and continue operations at over 140 locations in 25 states. The restructuring was the culmination of lengthy negotiations with the company's first- and second-lien lenders, lead by CIBC and DE Shaw, respectively, equity sponsor JW Childs, insurance provider CNA; and new working capital lender Wells Fargo.