Bowstring Advises Hire Dynamics in its Recapitalization by MSouth Equity Partners
May 10, 2016 | Atlanta, GA
Bowstring Advisors (“Bowstring”) served as the exclusive financial advisor to Hire Dynamics, a leading provider of commercial staffing solutions, in its recapitalization by MSouth Equity Partners.
Based in Atlanta, Hire Dynamics is a leading provider of commercial staffing services, with 12 branch offices and 22 on-site locations throughout Georgia, South Carolina, North Carolina, Tennessee, Alabama, and Texas. Founded in 2001, Hire Dynamics specializes in providing and managing talent requirements for clients in the logistics/e-commerce, manufacturing, contact (call) center, and clerical sectors. Hire Dynamics now serves more than 550 clients and offers work to more than 22,000 individuals, including 300 veterans, earning satisfaction ratings that merit Inavero’s “Best in Staffing” award recognizing the top 1% of the 10,000+ staffing companies in the U.S.
“After vetting numerous potential partners, we selected MSouth due to their industry expertise and quality reputation for working with management teams,” said Dan Campbell, CEO of Hire Dynamics. “Their substantial capital and M&A experience will allow us to scale our business while building on our strengths of industry-leading internal employees providing superior service to our clients and jobs that matter for our talent.” Campbell further notes, “We are very thankful for the Bowstring team and their commitment to finding the right partner and delivering a successful outcome for Hire Dynamics.”
Jim Childs, Managing Partner at Bowstring Advisors, said, “We enjoyed working with the management team of Hire Dynamics as they evaluated partnership opportunities and are pleased to bring about a successful outcome. The Company is a clear industry leader due to the quality of their solutions and dedication to their clients. Hire Dynamics has found a great partner in MSouth that will support them in their growth strategies moving forward.”
The transaction closed April 25, 2016. While specific terms have not been disclosed, the deal was structured as an owner-operator recapitalization, allowing the Company’s management to retain ownership in the business.
We are very thankful for the Bowstring team and their commitment to finding the right partner and delivering a successful outcome for Hire Dynamics.