Bowstring Advises Zycron in its Sale to BG Staffing

April 25, 2017 | Atlanta, GA

Bowstring Advisors (“Bowstring”) served as the exclusive financial advisor to Zycron, Inc. (“Zycron” or “the Company”), a provider of IT staffing services, in the sale of substantially all its assets to BG Staffing (“BG”). The deal included a combination of $19 million cash, $1 million (70,670 unregistered shares) of BG Staffing common stock, and certain earn-out provisions.

Zycron, founded in 1991, provides IT temporary staffing throughout the southeastern U.S. region and selected markets across the country to Fortune 500 companies and government entities. The Company has offices in Nashville, Chattanooga, and Memphis, as well as Dallas. The Zycron trade name will remain and operate as a separate brand under the BG Staffing, Inc., umbrella. With the addition of the Zycron offices, BG now has operations in 56 offices and 25 states.

Darrell Freeman, Chairman of Zycron, stated, “We are delighted to partner with BG Staffing and are excited for the new opportunities the partnership will bring Zycron employees, clients and consultants.” Freeman further noted, “The level of service and attention we received from the Bowstring team exceeded our expectations. Their knowledge of our industry and end-market along with their commitment to finding the right partner for Zycron enabled us to achieve a great outcome.”

Alan Bugler, Managing Director at Bowstring Advisors, said, “We enjoyed working with the management team of Zycron as they evaluated partnership opportunities, and are pleased to bring about a successful outcome. The management team has built a great business and we wish them all the best for the future.”

The level of service and attention we received from the Bowstring team exceeded our expectations. Their knowledge of our industry and end-market along with their commitment to finding the right partner for Zycron enabled us to achieve a great outcome.

Darrell Freeman
Chairman
Zycron