Provider of temporary staffing services Five Star Employment has secured a credit facility provided by Bibby Financial Services, based in Kennesaw, Georgia. Madison Street Capital acted as the exclusive financial advisor and placement agent. Terms of the deal were not disclosed.
Madison Street Capital acted as the exclusive financial advisor and placement agent in arranging a credit facility for its client, Five Star Employment, Inc. (“Five Star”), it was announced today by Charles Botchway, CEO of Madison Street Capital. The credit facility was provided by Bibby Financial Services, Inc., based in Kennesaw, Georgia. The transaction was led by Madison Street Capital Managing Director Lester (Jay) Rodgers. Terms of the deal were not disclosed.
“We are very pleased to have had the expertise of Madison Street Capital in securing a new credit facility that allows us the flexibility to continue to grow our business,” said Pam Valy, President of Five Star. “Their experience, guidance, and contacts enabled us to quickly structure and implement the new facility, and allowed us to take on clients we otherwise would have had to turn away.”
Madison Street Capital Vice President Brian Gorski noted that the credit facility provides the framework Five Star needed to seize new opportunities for growth and expansion. “This credit facility will provide Five Star with the working capital it requires to continue to provide high-quality service to its growing base of customers in government as well as in the private sector,” Gorski said.
About Five Star Employment, Inc.:
Five Star is a premier provider of temporary staffing services to both the private and public sectors. It provides qualified and dependable employees in a broad range of placements, including supervisory, clerical, administrative, accounting and payroll, quality control, industrial (including assembly, general labor, material handling, packaging, foodservice, etc.), warehouse personnel (dock workers, forklift drivers, pickers, shipping and receiving clerks, spotters, loaders, shift supervisors, etc.), telemarketing, reception, and technical, among others. There are several hundred people employed by Five Star throughout Illinois on a daily basis.
About Bibby Financial Services, Inc.:
Bibby Financial Services is a worldwide market leader in business cash flow solutions tailored to small and mid-sized companies. With offices in eight North American cities and 14 countries around the world, its product portfolio includes accounts receivables finance, factoring, export finance, purchase order finance, and specialized solutions for the staffing and trucking sectors. Bibby Financial Services is an approved lender for the Export-Import Bank’s working capital guaranty delegated authority program. Bibby Financial Services is a subsidiary of a 204-year-old privately held company based in the United Kingdom.
About Madison Street Capital:
Madison Street Capital is an international investment banking firm that provides mergers and acquisitions (M&A) advisory, financial advisory, financing services, valuation services, and operational improvement and restructuring services to public and private businesses as well as asset managers. Madison Street Capital has focused expertise in partnering with middle-market firms to successfully navigate complex transactions and successfully assist clients in optimizing the potential of their organizations. Madison Street Capital’s experienced professionals serve clients across the globe from offices in North America, Asia, and Africa.