EmployBridge, an industrial-staff company backed by Apollo Global Management has agreed to buy the Bluecrew business from IAC Inc, according to a report by Bloomberg.
EmployBridge, an industrial-staff company backed by Apollo Global Management has agreed to buy the Bluecrew business from IAC Inc, according to a report by Bloomberg.
The transaction will combine EmployBridge with Bluecrew’s app-based model and digital platform. IAC will keep a minority stake in the combined company which will reportedly generate more than $4 billion in pro-forma revenue.
EmployBridge was recognised by Staffing Industry Analysts as America’s largest industrial staffing firm. It has a network of 446 offices in 48 states. Bluecrew uses data and analytics strategies to help businesses with workforce scalability. Its has clients across 25+ markets, spanning warehousing, logistics, catering, hospitality, manufacturing and others.
The transaction is expected to be completed in the fourth quarter of 2022.
RBC Capital Markets, Evercore and Houlihan Lokey acted as financial advisors to EmployBridge and Paul Weiss as legal counsel.
