Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Select Personnel Services (Koosharem Corp.) > News item |
Select Personnel to get new credit facility for RemedyTemp purchase
By Sara Rosenberg
New York, May 11 - Select Personnel Services has received a commitment for a new credit facility as part of its acquisition of RemedyTemp Inc., according to an 8-K filed with the Securities and Exchange Commission Thursday.
Goldman Sachs Credit Partners LP and Bank of the West are the lead banks on the deal.
The credit facility will consist of a senior secured first-lien term loan and a senior secured first-lien revolver, the filing said. In addition, the facility could contain a senior secured second-lien term loan if necessary.
Under the acquisition agreement, Select Personnel will pay $17.00 per RemedyTemp share in cash, or about $169 million.
The transaction is subject to RemedyTemp shareholder approval, completion of financing and other customary regulatory and closing conditions. Closing is anticipated to occur during RemedyTemp's fourth fiscal quarter ending Oct. 1.
Select Personnel is a Santa Barbara, Calif., temporary staffing services company. RemedyTemp is an Aliso Viejo, Calif., professional staffing organization.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.