By Stephen Nakrosis
Apollo Global Management Inc. on Thursday said funds managed by its affiliates agreed to acquire EmployBridge, which it said was “the largest industrial staffing company in the United States.”
Terms and conditions of the deal weren’t disclosed, the company said.
Robert Kalsow-Ramos, Private Equity Partner at Apollo, said, “Looking forward, we see a significant opportunity to grow and enhance the EmployBridge platform through investments in technology and the associate experience and continuing to introduce innovative new engagement models.”
Michael Miles, the chief executive of EmployBridge, said, “With an estimated $28 billion addressable market, this transaction presents an opportunity to lead the way in our industry, enabling us to leverage our industry expertise and leadership position to accelerate growth, particularly in the logistics space, which is seeing incredible demand.”
The deal is expected to close by July of this year, Apollo said.
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View more information: https://www.marketwatch.com/story/funds-managed-by-apollo-global-mgmt-affiliates-to-acquire-employbridge-271622752967