BGL Announces Sale of Westaff ANZ to Humanis Blue Pty Limited
January 14 2009
BGL today announced the completion of the sale of the Australia and New Zealand subsidiaries of Westaff, Inc. (NASDAQ: WSTF) to Humanis Blue Pty Limited ("Humanis"), a company based in Melbourne, Australia.
Headquartered in Walnut Creek, California, Westaff, Inc. is a leading integrated staffing services firm providing a wide range of temporary staffing solutions to business and government agencies including permanent placement, replacement, supplemental and on-site temporary programs.
While publicly owned, Westaff, Inc.'s majority shareholder, HIG Capital, has well-established relationships with BGL and Global M&A (“GMA”) which meant the opportunity could be seamlessly introduced to Beerworth + Partners in Australia.
BGL Managing Director & Principal, John Tilson commented, "The sale of Westaff's Australia and New Zealand subsidiaries is a superb example of GMA’s cross border reach. The transaction was executed with the utmost attention to detail by local professionals, rather than managed off-shore, as would be the case with our larger competitors."
Beerworth + Partners Managing Director, Bill Beerworth, said that the transaction "was a fine realization of GMA’s potential" and "achieved a highly successful outcome, especially when taking into account the extreme economic headwinds experienced for much of last year."
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company is a leading independent investment bank serving middle market companies and their owners throughout the U.S. and internationally. BGL’s professionals are experts in mergers & acquisitions, debt & equity placements, financial restructurings and valuations & financial opinions. BGL is the U.S. partner in Global M&A, the world’s leading partnership of independent middle market financial advisory firms focusing on cross-border transactions. www.bglco.com
About Beerworth + Partners
Beerworth + Partners is an independent corporate advisory firm based in Sydney, Australia. It serves private and public corporations across Australia and has earned an enviable reputation for innovative strategic and financial advice. Beerworth + Partners is the Australian partner in Global M&A, the world's leading partnership of independent middle market financial advisory firms focusing on cross-border transactions. www.beerworth.com
About Global M&A
Global M&A GmbH is an exclusive partnership of many of the world’s most successful independent M&A advisory firms focused on the middle market. Within Global M&A, 40 partner firms work closely together to deliver seamless advice to clients’ local and cross-border deals in as many countries across Europe, Asia, North and South America and the Middle and Far East. www.globalma.com
Westaff provides staffing services and employment opportunities for business in global markets. Westaff annually employs in excess of 125,000 people and services more than 20,000 client accounts from offices located throughout the United States.