Access Capital Finances Growing Staffing Firm; Provides Acquisition Financing
Access Capital is pleased to share news of its latest transaction with Rochester based
Employee Relations Associates (“ERA”) is one of the nation’s leading recruitment firms. ERA serves clients across the country offering temporary, temp-to-hire, and professional placement across diverse technical and administrative disciplines.
Access Capital provided a credit facility to Employee Relations Associates in the amount of $7.5 million; composed of a revolver of $5 million and a term loan for $2.5 million.
The term loan was to support ERA’s acquisition of Talent Bridge, a premier executive recruiting and staffing organization specializing in accounting, finance, administrative and engineering placements.
Thomas Ioele, ERA’s CEO said of the transaction: “I was blown away at the speed, professionalism and the level of understanding of our business that each person we met from Access Capital had. With little notice, the Access Capital team was able to expedite our transaction quickly because they already knew our business and we didn’t have to take the time to educate them on what we do. Our experience from start to finish was exceptional; I can’t think of a better company to have partnered with.”
The acquisition will expand Employee Relations Associates’ services to the southeastern United States and add $40 million to ERA’s already impressive annual revenue base of $43 million.
The management team of Employment Relations Associates cites the pristine reputation and record of impressive work of Talent Bridge as indicators of future success for this endeavor.
About Access Capital: We are the nation’s foremost lender to staffing enterprises and have just completed our thirtieth year of serving the industry providing asset based lending, acquisition financing, and advisory services.