Bowstring Advises SOS Employment Group on its Sale to Elwood Staffing
February 20, 2013 | Atlanta, GA
Elwood Staffing and SOS Employment Group announced the joining together of their companies, creating an entity that rivals some of the staffing industry’s largest players. With combined annual revenue of more than $750,000,000, the company will now rank in the top 10 of all U.S. commercial staffing companies, the top 20 of all U.S. staffing companies, and just outside the top 50 of all global staffing companies. Bowstring Advisors served as SOS’s exclusive financial advisor. Financial details of the transaction were not announced.
With the completion of the transaction, the combined company’s internal staff will total nearly 1,000 employees and serve more than 6,000 clients. Additionally, the company will employ 27,000 temporary associates daily. The geographic presence will expand to 170+ offices, plus an additional 50+ vendor-on-premises locations, operating in 33 states and extending into Canada.
Jamie Madden, President of SOS’s parent company, Hire Calling, said, “The Bowstring team did an outstanding job advising us through this process from start to finish. Their knowledge of our sector and experience with transformational transactions allowed them to add tremendous value to our efforts.”
Cooper Mills, Managing Director at Bowstring Advisors, said, “We were delighted to work with two great management teams and help create a substantial national competitor in the commercial/light industrial staffing space.” Senior members of the deal team included Cooper Mills, Dave Phillips and Alan Bugler.
In the last two years, Bowstring Advisors has advised two of the largest commercial/light industrial staffing firms in the U.S., SOS and EmployBridge, with their respective transactions, making Bowstring the preferred investment bank to the staffing sector.
The Bowstring team did an outstanding job advising us through this process from start to finish. Their knowledge of our sector and experience with transformational transactions allowed them to add tremendous value to our efforts.
Hire Calling (SOS's parent company)