EmployBridge, a leading provider of technology-enabled, light industrial workforce solutions in the United States, announced that it has entered into a definitive agreement to acquire Hire Dynamics. Hire Dynamics is a top provider of light industrial workforce solutions in the Southeastern United States with more than $450 million in annualized revenues.
This transaction builds upon a recent platform investment in EmployBridge made by Apollo-managed funds and underscores EmployBridge's commitment to growth, innovation and expanding opportunity. Post-closing, EmployBridge will be led by Billy Milam, current Chief Executive Officer ("CEO") of Hire Dynamics and Michael Miles, current CEO of EmployBridge, will become Executive Chairman of the Board. Subject to satisfaction of customary closing conditions, the transaction is expected to be completed by the end of November.
Mr. Milam joined Hire Dynamics in 2019 as CEO and under his leadership, the company has doubled in size and received numerous accolades for best-in-class client and talent satisfaction. Prior to joining Hire Dynamics, Mr. Milam held various executive leadership roles at RaceTrac, one of the nation's largest convenience store operators, over a twenty year career at the company including most recently President and Chief Operating Officer.
"This transaction brings together two world-class organizations – expanding the breadth and depth of EmployBridge's solutions and supporting accelerated strategic investments in clients, talent and technology. We are appreciative of Michael Miles for his contributions as CEO of EmployBridge and look forward to continuing our work together on the company's board under Billy's leadership."
- Robert Kalsow-Ramos, Private Equity Partner at Apollo.
Houlihan Lokey and RBC Capital Markets served as financial advisors to Apollo and EmployBridge and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Akin, Gump, Strauss, Hauer & Feld LLP are acting as legal advisors. Citizens Bank M&A Advisory acted as lead financial advisor to MSouth Equity Partners and Hire Dynamics and DLA Piper is acting as legal counsel.
As workforce specialists, EmployBridge provides value-added workforce solutions and job opportunities through focused specialty divisions including ResourceMFG, ProLogistix, ProDrivers, Select, RemX, Remedy Intelligent Staffing, Westaff and Decca, Resdin, and Vaughan. Combining the advantages of national scale, in-depth local market knowledge, supply-chain expertise, and powerful recruiting and retention tools, EmployBridge is recognized by Staffing Industry Analysts as America's largest industrial staffing firm. The company puts more than 400,000 temporary associates to work annually across a network of over 365 offices in 48 states. In 2020, EmployBridge provided more than 130 million work hours to 11,000 customers, generating more than $2.9 billion in revenue. EmployBridge is also helping close the skills gap in America's supply chain by providing free, career-focused skills development courses to its temporary associates as well as personal training courses through the firm's Better WorkLife Academy and Life Skills Studio; more than 28,000 temporary associates are currently enrolled. EmployBridge is majority-owned by certain investment funds managed directly or indirectly by Apollo Global Management, Inc. (NYSE: APO) and its subsidiaries and affiliates.
About Hire Dynamics
Hire Dynamics is among the top 1% of more than 22,000 staffing companies as a winner of ClearlyRated's "Best of Staffing for Client & Talent Satisfaction" for 12 consecutive years. Founded in 2001 in Atlanta, Hire Dynamics transforms lives by employing some 11,000 people daily at more than 2,000 client locations. Through approximately 70 locations across the South and its innovative technology, Hire Dynamics specializes in matching workers with jobs in manufacturing, logistics/e-commerce, contact center, and office suppport. Their mission is to be the #1 staffing company you would refer to a friend. Its own employees have voted it a "Best Place to Work" for 13 years in a row.