EmployBridge Completes Acquisition of Bluecrew-humanresources.vision

EmployBridge Completes Acquisition of Bluecrew

The first hourly W-2 workforce-as-a-service platform, Bluecrew, was acquired by EmployBridge, a significant supplier of technology-enabled, light industrial workforce solutions in the United States, from IAC today (NASDAQ: IAC). EmployBridge’s scalability and industry-leading services are combined with Bluecrew’s digital-first approach and technology in this acquisition to establish a premier national workforce management platform.

IAC has been compensated in accordance with the terms of the deal with cash and combined company shares and is now a minority shareholder in the merged business, which is anticipated to produce over $4 billion in pro forma annual sales. The merged company’s controlling shareholder is still Apollo funds.

“We are pleased to complete our acquisition of Bluecrew and excited to officially bring our teams together as we continue our work to create a leading national workforce management platform, Bluecrew’s digital-first approach, and sophisticated product offerings further expand the capabilities of EmployBridge’s distinguished platform, and we are looking forward to continuing to enhance how we provide unique value for both clients and talent during a critical time for our industry.”

– Billy Milam, CEO of Employbridge

We look forward to working with our new colleagues to revolutionize the experience for workers and businesses across the United States, said Stephen Avalone, CEO of Bluecrew. This combination of scale and tech-centric solutions accelerates our shared vision to sustainably enhance the lives of hourly workers while also improving our customers’ workforce management.

EmployBridge received financial advice from RBC Capital Markets, Evercore, and Houlihan Lokey, as well as legal guidance from Paul Weiss. IAC had Morrison Cohen represent it in legal matters.

About EmployBridge

As a staffing provider, EmployBridge offers value-added solutions for staffing and employment opportunities through focused professional divisions including Decca, Hire Dynamics, ProDrivers, ProLogistix, Remedy Intelligent Staffing, RemX, Resdin, ResourceMFG, Select, and Westaff. Combining national scale, in-depth local market knowledge, supply chain expertise, and powerful recruiting and retention tools, EmployBridge is recognized by staffing industry analysts as America’s largest staffing firm. The company employs more than 450,000 part-time workers annually in a network of 446 offices in 48 states. In 2021, EmployBridge provided more than 157 million hours of work to 13,000 people. EmployBridge also helps fill the skills gap in America’s retail industry by offering free job-focused skills development courses and personal training to part-time associates through the company’s Better WorkLife Academy and Life Skills Studio; more than 28,000 temporary workers are currently registered. EmployBridge has a majority of other investment funds managed directly or indirectly by Apollo Global Management, Inc. and its sponsors and affiliates.

About Bluecrew

Bluecrew is the first W-2 Workforce-as-a-Service platform that combines a flexible W-2 staffing suite, workforce management technology, and actionable data and analytics for businesses with dynamic workforce need and requirements. Bluecrew combines the reliability of traditional W-2 work with the flexibility of technology and the gig economy, all in a powerful and easy-to-use mobile app for hourly workers looking for flexible yet stable work opportunities. Using its data technology, Bluecrew leverages workforce volatility by matching companies with more than 100,000 pre-screened, ready-to-work “workforce members” in 25 markets, warehousing, logistics, food, hospitality, manufacturing, and more definitely the most qualified workers and the best matches for every job, every time.

About IAC

IAC (NASDAQ: IAC ) builds companies. We are driven by curiosity, curiosity, and the desire to create or discover new products and brands. From the same seed that started as IAC 20 years ago, 11 state-owned enterprises and a generation of different managers have grown. We are always changing, but our principles of financial advantage never change. Today, IAC is comprised of a group of leading companies, including Angi Inc., Dotdash Meredith, and Care.com, among many other early-stage to established companies. IAC is headquartered in New York and has offices around the world.

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