For Immediate Release
April 1, 2011
Ewing Bemiss & Co. Announces the Sale of COMFORCE Corporation.
Richmond, Virginia – Ewing Bemiss & Co. is pleased to announce the sale of COMFORCE Corporation (“Comforce”) to ABRY Partners, LLC. Ewing Bemiss & Co. served as the exclusive financial advisor to Comforce in the transaction. On December 27, 2010, Comforce was acquired for a purchase price of $2.50 per share of common stock outstanding. The purchase price represented an 85.5% premium over the value weighted average stock price of Comforce during a 90 day trading period preceding the purchase.
Based in Woodbury, New York, Comforce is a national provider of staffing services in the healthcare support, technical, information technology, and telecommunications sectors with a strong presence across the U.S. Its subsidiary, PrO Unlimited, is an industry leader providing VMS/MSP and payrolling services to a number of Fortune 1,000 companies.
ABRY Partners is a Boston based private-equity firm focused solely on media, communications, business services, and information services investments. The firm was founded in 1989 and has since completed over $21 billion of leveraged finance transactions.
Ewing Bemiss & Co. is an investment bank focused on delivering superior service and optimal results to middle market companies. Since its founding in 1992, Ewing Bemiss & Co. has given clients across a broad range of manufacturing and services sectors the benefit of its extensive transaction experience and strong relationship orientation. Ewing Bemiss & Co.'s core services include Merger and Acquisition Advisory, Private Capital Formation, Financial Restructuring and Strategic Advisory.
Ewing Bemiss & Co. is widely recognized for in-depth sector knowledge and expertise developed through proactive research, years of dedicated service and the development of strong relationships with sector participants in several industries, including Healthcare, Energy, Transportation & Logistics and Business & Technology Services. This engagement represents Ewing Bemiss & Co.’s twelfth successful transaction in the staffing industry since 2004.
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