Access Capital recently closed a transaction with SASR Workforce Solutions, LLC (“SASR”).
The company is based in Raleigh, NC and is known as a market leader in the retail, warehouse and distribution, and grocery staffing space, providing workforce solutions specifically focused on supporting the labor needs of clients primarily in the US retail sector.
SASR’s CEO Patrick Henderson is a senior executive with over 25 years of experience implementing and leading strategic decisions that strengthen performance and profitability for start-ups as well as publicly traded and private companies within staffing and healthcare.
When the opportunity arose for Henderson to acquire the balance of ownership of SASR from its founder, the team at Access Capital was called upon to help in structuring a credit facility that would enable SASR to repay its former lender as well as provide a term loan to assist SASR in the redemption of the membership interests of the founder thus resulting in Henderson’s ultimate 100% ownership.
Access Capital provided a credit facility in the amount of $8 million which is comprised of a $6 million revolver and a $2 million term loan.
It was great working with the Access Capital Team. They have a deep understanding of the staffing industry which allowed them to understand our long-term strategy and assist with structuring a credit facility during a very challenging market. We truly appreciate the partnership we have with them.
Patrick Henderson, President & CEO
SASR Workforce Solutions