Sverica Capital Management LLC has sold Bartech Group Inc to Impellam Group plc. No financial terms were disclosed. Southfield, Michigan-based Bartech is a provider of workforce solutions.
SOUTHFIELD, Mich.–(BUSINESS WIRE)–Sverica Capital Management LLC (“Sverica”), a private equity investment firm, announced today the sale of the Bartech Group Inc. (“Bartech”) to Impellam Group plc (LON: IPEL) (“Impellam”). Based in Southfield, Michigan, Bartech is a global provider of workforce solutions, which include Managed Services Provider (“MSP”) and Staff Augmentation services to Fortune 1000 and other enterprise-level Clients. Bartech consistently ranks among the top 10 largest global providers of MSP services and was ranked by HRO Today in 2014 as the #1 global MSP provider based on quality of service, breadth of service, and client satisfaction.
Sverica acquired a majority interest in Bartech in March, 2012 and promoted David W. Barfield to President and CEO to execute the company’s strategy to become a leading provider in the Contingent Workforce Solutions space. Over the course of its ownership, Sverica supported key strategic decisions and investments contributing to Bartech’s overall competitiveness, high growth and improvements in operating leverage. These included: adding to management depth, global resources, facilities and infrastructure enhancements.
“It is tough letting go of a great company like Bartech, but together with the leadership of David and his management team, we have grown the company over the last three and a half years into an asset that is well positioned to now go to the next level leading Impellam’s North American contingent labor strategy,” said Dave Finley, Managing Director at Sverica.
“My parents founded Bartech in 1977 and I’ve had the privilege to lead and reshape our company’s strategy, operations and culture since 2009,” said David Barfield, Bartech’s CEO. “My team and I have enjoyed our partnership with Sverica. Their support of our team and vision to position Bartech to compete in the growing and rapidly evolving Staffing industry has resulted in a better and stronger Bartech. Now, our team looks forward to joining Impellam Group and becoming an important component of their North American strategy which I am honored to lead into the future.”
“It has been a pleasure partnering with David and his team to build an industry leading company in the human capital management industry,” said Jordan Richards, Managing Director at Sverica. “It is gratifying to see all of the hard work not only translate into strong revenue and EBITDA growth over our investment period, but also the recognition by our Clients and industry peers for the high quality of service Bartech provides.”
Bartech is a Michigan-based professional services firm that delivers global workforce management and staff augmentation solutions to Fortune 1000 companies and other large users of non-employee labor. The company was established in 1977 by John Barfield as a supplier of technical staffing services to the automotive industry. Today, the company manages or employs over 30,000 consultants daily across multiple end markets and manages over $3.5 billion of client expenditures. Bartech is ranked by Staffing Industry Analysts as the 8th largest MSP by global spend and 5th largest vendor neutral MSP in the industry. Further, Bartech is considered by HRO Today as a perennial top 5 performer and was recognized in 2014 as the #1 Managed Service Provider globally based upon breadth of services and client satisfaction. For more information, visit www.bartechgroup.com.
About Sverica Capital Management
Sverica is a leading private equity firm that has raised over $500 million of investment capital across multiple funds. The firm seeks to invest in companies that are or could become leaders in their industries, and works closely with the management of such companies to facilitate their growth. Since 2001, Sverica has maintained a “high touch” operating philosophy of taking an active role in portfolio companies. Sverica devotes significant internal resources to help its management teams develop and execute growth strategies. For more information, visit www.sverica.com.
About Impellam Group
Impellam Group is ranked by Staffing Industry Analysts as the 2nd largest staffing business in the UK and 12th worldwide. Impellam Group provides managed services and specialist staff across the UK, North America, Asia Pacific and mainland Europe. The company vision is to become ‘the world’s most trusted staffing company – trusted by our people, our customers and our investors in equal measure’. Ultimately, Impellam Group’s purpose is to provide fulfilment and a sense of purpose to its people, and to help customers build better businesses in a changing world. Through highly selective M&A activity, Impellam Group will continue to fill in the geographic and sector gaps in a diverse business portfolio. For more information visit www.impellam.com.