Done Deal: The Staffing Group

Ticked All The Right Boxes

 


 

 

£70,000,000

Revolving Line of Credit

Temporary Recruitment Services

Financing Event: Growth
PNC Deal Leader: Jason Zillwood

The Company: Top Recruiter

Walsall headquartered The Staffing Group (TSG) was founded in 1992 and has grown steadily to take a lead position within the temporary recruitment sector. With a £360m plus turnover and 112 branch and onsite locations nationwide, the business spans logistics, food manufacturing and processing E commerce, manufacturing and automotive.

The Deal: New Horizons, New Solutions

TSG is a fast-moving entrepreneurial business working in dynamic markets and the business needed a different funding approach to help drive the next stage of its success.

The Achievement: Ticked All The Boxes

PNC got the right deal done and delivered the size of the facility without the need for syndication. In line with the demands placed on all deals, regardless of quantum, the commitment to speed of response, business insight, clarity and continuity were essential elements to achieving a successful outcome.

PNC ticked all of our boxes and made our decision to engage very straightforward. ‘Straightforward’ was the key to the whole deal. We wanted to find a long-term strategic finance partner that shared our vision for the business and that could put in place the funding we needed from Day One to clear the pathway for our continued growth. PNC understood the ‘ask’ from the outset. They were quick with their principal offer and kept true to their word and intent right the way through the deal process.

Neil Bodfish | Finance Director, The Staffing Group

Important Legal Disclosures & Information

*A portion of the funding provided by Steel City Capital Funding, a division of PNC Bank. Steel City Capital Funding provides Cash flow-based senior debt, junior secured and second lien loans for sponsored and non-sponsored transactions. 

Neither PNC Financial Services UK Ltd. nor PNC Bank Canada Branch provides legal, tax or accounting advice.

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