EmployBridge, a leading provider of technology-enabled, light industrial workforce solutions in the United States, announced that it has completed the acquisition of Hire Dynamics, a top provider of light industrial workforce solutions in the Southeastern United States with more than $450 million in annualized revenues.
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This transaction builds upon a recent platform investment in EmployBridge by Apollo-managed funds and underscores EmployBridge’s commitment to growth, innovation and expanding opportunity.
As previously announced, the combined company will be led by Billy Milam, former CEO of Hire Dynamics. “We are very excited to bring together industry leaders EmployBridge and Hire Dynamics as one team,” said Mr. Milam. “This partnership unlocks incredible potential for expanded services to meet the increasing needs of our clients and will create new and exciting opportunities for our people. It is a privilege to lead the combined team as we grow in this next phase.”
Houlihan Lokey and RBC Capital Markets served as financial advisors and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Akin, Gump, Strauss, Hauer & Feld LLP served as legal advisors to EmployBridge and the Apollo Funds. Citizens Bank M&A Advisory acted as lead financial advisor and DLA Piper as legal counsel to MSouth Equity Partners and Hire Dynamics. The terms and conditions of the transaction were not disclosed.
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