GES Sells Global PEO to Madison Capital and Acquires firstPRO
Press Release
Jul 22, 2010
Littleton, CO — Effective July 15, 2010, Global Employment Solutions closed a transaction to sell Global Employment Solutions PEO, its nationally recognized Professional Employer Organization (PEO) to Madison Capital Partners. Global PEO, is one of the largest Professional Employer Organizations (PEOs) in the country.
“Global PEO has been exceptionally run under the current management team,” observed Larry Gies, CEO of Madison Capital Partners. “It is definitely a strong testament to Global’s stewardship.”
“This is truly an exciting time for Global. We are continuing to focus on building the professional staffing side of our business,” said Howard Brill, Global’s chief executive officer. “We’re investing in our people and our infrastructure, as well as looking at acquisitions into new markets. The proceeds from this sale allow Global to pay down its debt obligations, while providing significant capital for additional acquisitions.”
This professional staffing focus is evident with Global’s purchase of firstPRO Traditional Services, a division of Georgia-based firstPRO, Inc. on June 1, 2010. This opens up a new market for Global Employment Solutions and leverages firstPro’s 24-year history serving the Georgia marketplace.
About Global Employment Solutions
Global Employment Solutions is a national provider of professional staffing services. Founded in 1998, Global serves a diverse cross-section of companies and employees. They offer the personal attention of a local business, combined with an extensive business network and a wide range of global resources under one roof. Global provides direct placement and temporary staffing in a number of niche areas, including information technology, administrative, engineering, accounting/finance, call center, among others.
About Madison Capital Partners
Madison Capital Partners (www.madisoncapitalpartners.net), a Chicago based investment firm, acquires and grows branded market leaders. Madison has previously financed the growth of over 22 successful multinational corporations.