on BGSF, INC. (NASDAQ:BGSF)
BGSF, Inc. Completes Sale of Professional Division for $99 Million
BGSF, Inc., a leader in workforce solutions for the property management sector, has finalized the divestiture of its Professional Division to INSPYR Solutions, affiliated with A&M Capital Partners, for $99 million in cash. This move marks a significant shift for BGSF as it focuses on expanding its property management services.
Interim Co-CEOs Kelly Brown and Keith Schroeder stated that the sale allows BGSF to concentrate on enhancing its geographic footprint and strategic initiatives. The company plans to use the proceeds to significantly reduce its debt and invest in its core property management business.
The BGSF Board, consulting with financial advisors, seeks to optimize shareholder value with the remaining funds.
R. H.
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