Sverica International has invested in Bartech Group. Financial terms weren’t announced. Bartech is a professional services firm that provides workforce solutions to global firms. David W. Barfield was also named president, CEO and Chairman of Bartech’s board of directors. He succeeds Jon Barfield.
Michigan-based Bartech Group (Bartech) announced Friday it has received an investment from Sverica International to fund its ongoing strategic growth. Bartech, a leading professional services firm, specializes in the delivery of workforce solutions to global corporations. Bartech’s primary offering allows customers to effectively control the costs, processes and risks associated with the procurement and administration of non-employee labor.
In conjunction with the investment, David W. Barfield has been promoted to President, Chief Executive Officer and Chairman of Bartech’s Board of Directors, succeeding Jon E. Barfield. Active in the company’s leadership and growth since 1995, David served as Bartech’s Chief Operating Officer, where he developed and led the company’s workforce solutions strategy and field organization. “Our company has experienced significant growth over the past five years in a growing, yet highly competitive segment of our industry. To remain competitive, we must help our customers win in the global marketplace by delivering quality services to meet their increasing demands for talent. Sverica shares our long-term vision and this relationship enables Bartech to make the necessary investments to add significant value to customers.”
David Finley, Managing Director at Sverica International, commented, “We welcome Bartech into the Sverica portfolio and look forward to working with such a talented and dedicated management team. Bartech’s leadership, market position and stellar reputation in the staffing industry provide a unique platform to capitalize on favorable market conditions going forward.”
Jordan Richards, Principal at Sverica International, added, “We are excited to partner with David and his management team to build upon their historical success of providing a high level of service to clients throughout the workforce solutions space. We look forward to supporting Bartech’s growth initiatives by working with leadership to expand its service offerings and geographic footprint in its next growth phase.”
About Bartech Group
Established in 1977, Bartech is an industry-leading professional services firm delivering workforce solutions to global firms. Managing more than 25,000 daily work assignments and approximately $2 billion in annualized billings, Bartech helps large users of non-employee workers achieve greater quality, savings and efficiency while minimizing the risks associated with the management of non-employee workers. Bartech has maintained its minority certification by the National Minority Supplier Development Council. Learn more at www.bartechgroup.com.
About Sverica International
Sverica International is a leading private equity firm that has raised over $425 million of investment capital. The firm acquires, invests in and actively builds companies that are, or could become, leaders in their industries. Since 1993 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.