- Gibraltar Provides Responsive Seasonal Solution for Heating Oil Company
- Symplr Nets Debt Financing for Acquisition of TractManager
- The Joint Corp. Secures $7.5 Million Line of Credit with J.P. Morgan Chase Bank
- Fifth Third Business Capital Arranges Working Capital Line of Credit for Polder Products, LLC to Support Acquisition Growth
- Strategic Storage Trust IV Announces Term Loan Expansion
Access Capital Provides $4.6 Million for Acquisition By Advance Employment Services, LLC
November 18, 2019
Source: Access Capital
Access Capital is pleased to share news of its latest transaction with The managing partners of Advance Employment Services, LLC (“Advance”) recently engaged Access Capital to finance the purchase of the commercial staffing business of the AccessPoint family of companies, a professional employer organization in the greater Michigan area.
To complete the transaction, Access Capital supported Blaine Schultz, Chief Operating Officer and Shelley Mitchell, President and part owner of Advance Employment Services, LLC, both 28 year veterans in the staffing industry. Blaine was one of the partners that initially sold the staffing business of Advance to AccessPoint in 2014 and subsequently served as both a minority shareholder and division president of the combined company until its recent sale in June 2019. In helping to reacquire Advance, Access Capital provided a robust financing structure to include both a senior debt working capital line of credit and acquisition financing in the form of a term loan, for a combined $4.6 million credit facility.
“We are grateful for the opportunity to bring the Advance nameplate and history of service back to the 10 communities we have been a part of since the early 90’s. We couldn’t have done it without the commitment of all of our valued team members, the trust of our clients and valuable service partners, now including Access Capital.”
Blaine Schultz, Chief Operating Officer, Advance Employment Services, LLC
About Access Capital: We are the nation’s foremost lender to staffing enterprises and have been serving the industry providing asset-based lending and acquisition financing for over three decades.
In This Section