BGSF, Inc. announced the closing of its previously announced divestiture of its Professional Division to INSPYR Solutions for $99 million in cash. This transaction marks a significant strategic milestone for the company, transforming it into a pure-play provider of workforce solutions for the specialized property management industry.
The cash proceeds from the sale are intended to substantially eliminate BGSF's outstanding debt, providing the company with a significantly de-risked balance sheet and enhanced financial flexibility. This deleveraging is a core component of BGSF's strategic transformation.
Interim Co-CEOs Kelly Brown and Keith Schroeder stated that BGSF's next chapter will focus on disciplined investment in the continued geographical expansion of its property management solutions. The company will also develop strategic initiatives to differentiate itself from competitors in this focused market.
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