Palm Beach Capital has made an investment in New Jersey-based Lyneer Staffing Solutions LLC, a provider of permanent, temporary and temp-to-perm placement services. No financial terms were disclosed.
PRESS RELEASE
WEST PALM BEACH, Fla.–(BUSINESS WIRE)–Palm Beach Capital Fund IV, L.P., through one of its investment entities, today announced that it made an investment in Lyneer Staffing Solutions, LLC (“Lyneer” or “Company”), an industry leader in permanent, temporary and temp-to-perm placement services. Financial terms were not disclosed.
Lyneer is a nationally recognized, strategic staffing firm servicing the commercial, professional, financial, direct placement and managed service provider (MSP) verticals. For more than 20 years, Lyneer’s principal owners, Todd McNulty and Jim Radvany, have grown the firm from a regional tri-state operation to a truly national staffing firm with over 100 corporate and customer-integrated offices across the United States. Lyneer places over 50,000 new jobs each year servicing more than 1,600 customers across a variety of verticals; and the Company’s primary placement strengths include light industrial, mail room and data entry, clerical and accounting, and permanent placement professionals. Today, Lyneer stands as one of the prominent staffing firms in the industry.
Todd McNulty, Chief Executive Officer, stated “The potential that we expect to realize with Palm Beach Capital will undoubtedly make us a stronger partner to our customers, and I have never been more excited about the future for Lyneer than I am today.” Jim Radvany, Chief Financial Officer, adds “This was an excellent opportunity for us to partner with an experienced equity team with a proven track record of helping companies realize their true growth potential.”
“We are delighted to partner with the entire Lyneer management team and we look forward to providing the necessary support for the company to expand its service and technology platforms to proactively manage its customers’ labor market challenges,” commented Michael Chalhub, Palm Beach Capital Partner and Chief Operations Officer. “Lyneer has the proven capabilities and infrastructure to support its large-scale customer base while at the same time providing a more localized approach to identifying and managing its placement workforce. We look forward to building on that foundation both organically and through strategic acquisitions.”
About Lyneer
Headquartered in Ewing Township, New Jersey, Lyneer Staffing Solutions, LLC is a national staffing company that specializes in the placement of temporary, temp-to-perm and permanent labor within various industries. Lyneer employs approximately 380 professionals that serve its vast customer base from over 100 office locations across the nation. The Company’s primary placement strengths include light industrial, mail room and data entry, clerical and accounting and permanent placement professionals. For more information, please visit the Company’s website at www.lyneer.com.
About Palm Beach Capital
Founded in 2001, Palm Beach Capital is a private equity investment firm with offices in both West Palm Beach and Sarasota, Florida. Currently investing out of its fourth committed fund, the firm focuses on high growth investment opportunities and partners with management teams in middle market management buyouts, recapitalizations and growth equity investments. Since its inception, Palm Beach Capital has made investments in 44 portfolio companies (52 distinct investments including co-investment vehicles). For more information, please visit the firm’s website at www.pbcap.com.
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