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NEW YORK and ATLANTA, July 19, 2021 (GLOBE NEWSWIRE) – Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) announced today that funds managed by its affiliates (the “Apollo Fund”) completed the previously announced acquisition of EmployBridge, the largest industrial recruiting company in the United States.
“This new strategic partnership with Apollo is a significant milestone for our business that will fuel our growth and energize our teams as they focus on solutions to drive associate engagement and client success,” said Michael Miles, CEO of EmployBridge. “Our team’s experience in supply chain workforce management and passion for associates, combined with this investment, provide us with new opportunities to improve our service capabilities and our product offerings to drive growth. ”
“We are delighted to have finalized our investment in EmployBridge and to begin working with Michael and the entire EmployBridge leadership team on this next chapter of growth and development,” said Robert Kalsow-Ramos, Partner in private equity at Apollo. “Market fundamentals remain strong and we see a tremendous opportunity to improve and grow the platform through accelerated investments in technology, associate experience and new models of customer engagement. “
Houlihan Lokey and the Royal Bank of Canada acted as financial advisers to the Apollo Funds in connection with the transaction. Akin, Gump, Strauss, Hauer, & Feld LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP have served as legal advisers to the Apollo funds. Credit Suisse acted as the principal financial advisor to EmployBridge, with William Blair also advising the company. Milbank LLP acted as legal counsel to EmployBridge. Terms and conditions of the transaction were not disclosed.
Apollo is a high growth global alternative asset manager. We seek to provide our clients with excess return at every step of the risk-return spectrum, from investment grade to private equity, by focusing on three business strategies: yield, hybrid and opportunistic. Through our investing activity on our fully integrated platform, we meet the retirement income and financial performance needs of our clients, and we deliver innovative capital solutions to businesses. Our patient, creative and knowledgeable approach to investing aligns our clients, the companies we invest in, our employees, and the communities we impact on, to expand opportunities and drive positive results. As of March 31, 2021, Apollo had approximately $ 461 billion in assets under management. For more information, please visit www.apollo.com.
As a workforce specialist, EmployBridge provides value-added workforce solutions and employment opportunities through targeted specialist divisions including ResourceMFG, ProLogistix, ProDrivers, Select, RemX, Remedy Intelligent Staffing, Westaff and Decca, Resdin and Vaughan. Combining the advantages of a national scale, in-depth knowledge of the local market, supply chain expertise and powerful recruitment and retention tools, EmployBridge is recognized by Staffing Industry Analysts as the world’s largest firm. United States Industrial Recruitment Center. The company employs more than 400,000 temporary staff each year in a network of more than 365 offices in 48 states. In 2020, EmployBridge provided more than 130 million hours of work to 11,000 customers, generating more than $ 2.9 billion in revenue. EmployBridge is also helping close the skills gap in the U.S. supply chain by offering free, career-focused skills development courses to its temporary associates as well as personal training courses through the Better WorkLife Academy and the company’s Life Skills Studio; more than 28,000 temporary associates are currently registered. For more information, please visit the company’s website at www.employbridge.com.
For Investors Peter Mintzberg, Head of Investor Relations Apollo Global Management, Inc. +1 (212) [email protected]
For MediaJoanna Rose, Global Head of Corporate Communications Apollo Global Management, Inc. +1 (212) 822-0491
Quiana PinckneyVice President, Public [email protected]m
Source: Apollo Global Management, Inc.