BGSF, Inc. announced it has signed a definitive agreement to sell its Professional Division to INSPYR Solutions for $99 million in an all-cash deal. This transaction encompasses BGSF’s IT Consulting, Finance and Accounting, Managed Solutions, and Near and Offshore Software Engineering practices.
The divestiture is expected to close during the second half of 2025, subject to shareholder approval and the fulfillment of other customary closing conditions. BGSF intends to use the net proceeds from the sale to substantially eliminate its outstanding debt and to make advantageous investments in its Property Management business.
As a result of this transaction, Beth Garvey, Chair, President, and CEO of BGSF, will transition from her role effective July 1, 2025. Board Member Cynthia Marshall will also resign on the same date, with Kelly Brown, President of Property Management, and Keith Schroeder, Chief Financial Officer, appointed as interim co-CEOs.
This strategic move is a culmination of a strategic alternatives review and aims to create a leaner, more focused company centered on its Property Management operations. The Board will determine the best use of remaining proceeds to maximize shareholder value.
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