The Select Family of Staffing Companies and EmployBridge announced plans to merge both companies by February, combining but continuing to operate businesses under each existing brand name.
A union between Select Staffing, which was founded locally in 1985, and Atlanta-based EmployBridge brings together two well-known staffing companies with “complementary geographic footprints” and approximately $3 billion in combined annual revenue, according to the announcement.
Delia Cannan, who spoke on behalf of the companies, said although both companies would be headquartered in Atlanta, a significant corporate presence would remain in Santa Barbara and throughout other centers in the United States.
She would not comment on how a merger might impact local employees.
Select Staffing’s corporate office is currently located at 3820 State St.
Serving nearly 20,000 customers with more than 490 branch and on-site locations across North America, the new company is meant to serve clients more efficiently and to provide exciting professional opportunities for employees.
Morgan Stanley Global Private Equity and Constitution Capital — majority owners of EmployBridge since May 2011 — will give up their stakes in EmployBridge upon closing. Select Staffing is majority owned by affiliates of Anchorage Capital Group LLC and BlueMountain Capital Management LLC.
EmployBridge CEO Tom Bickes will retain his title and become a member of the company’s board of directors, while Select Staffing CEO Steve Sorensen will retire from management and become vice chairman of the board of directors.
“This compelling transaction provides a unique opportunity to create the premier North American staffing company, with an expanded suite of services, broader geographic reach and enhanced professional opportunities for our combined team,” Sorensen said in a statement. “We have tremendous respect for EmployBridge and its management team, which has differentiated itself through its branded portfolio of staffing solutions and its locally operated model, as well as its industry leading technology-enabled delivery platform.”
Bickes echoed the outgoing CEO’s excitement.
“This combination is a testament to the strength of our brands and the accomplishments of our dedicated team members,” Bickes said. “Together, we will be even better positioned to capitalize on the changing economic trends towards more flexible workforces, increasing scarcity of skilled workers and the outsourcing of talent management. I am thrilled to partner with the Select Staffing family as we embark on this exciting next chapter of growth.”