Chicago-based Madison Street Capital acted as exclusive financial advisor and placement agent in arranging a credit facility for its client, Seville Staffing, the firm announced Friday. The credit facility was provided by Bibby Financial Services, based in Kennesaw, Georgia. Terms were not released.
Madison Street Capital (“MSC”) acted as the exclusive financial advisor and placement agent in arranging a credit facility for its client, Seville Staffing, LLC (“Seville Staffing”), it was announced today by Charles Botchway, CEO of MSC. 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 assistance of Madison Street Capital in securing working capital to meet needs created by the largest contract our company has ever been awarded,” said Seville Staffing President Janet Sloan. “Their experience, guidance and contacts enabled us to open two new branches, making the necessary capital investment and staffing expansion to better serve our clients.”
Madison Street Capital Vice President A.J. Dhingra said the credit facility will enable Seville Staffing to continue its expansion in providing staffing services on a statewide basis. “This credit facility will provide Seville Staffing with the working capital it requires to continue to provide high-quality service to its growing base of customers in both the public and private sectors,” he said. “Seville Staffing continues its strong growth as one of the leading workforce solutions providers in Illinois.”
About Seville Staffing, LLC
Seville Staffing is a full-service, client-focused workforce solutions provider established in 1979. The company provides temporary, temp-to-hire, and permanent placement and staffing services to both public and private clients. Seville Staffing has successfully provided more than 4,000 clients with more than 20,000 temporary employees. Seville Staffing recruits, tests, screens, and employs more than 1,000 people every year, and several hundred people are employed by Seville Staffing throughout Illinois on a daily basis.
About Bibby Financial Services, Inc.
Bibby Financial Services is a worldwide market leader in business cash flow solutions to small and medium-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 providing 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 assist clients in optimizing their company’s potential. Madison Street Capital’s experienced professionals serve clients across the globe from offices in North America, Asia, and Africa.