BGSF, Inc. announced the closing of its Professional Division divestiture to INSPYR Solutions for $99 million.
The company plans to use the proceeds to eliminate outstanding debt and invest in its Property Management business.
Interim Co-CEOs shared their excitement for the future strategic initiatives and growth prospects.
Divestiture Deal
BGSF closed the divestiture of its Professional Division to INSPYR Solutions for $99 million in cash.
Strategic Initiatives
The company aims to expand geographically, strengthen specializations, and enhance operational support for customers.
Net Proceeds
BGSF intends to utilize the net proceeds to pay off debt and make strategic investments in its Property Management business.
- BGSF looks forward to focusing on strategic growth initiatives with the divestiture completion.
- The company expects to strengthen its core business and enhance shareholder value through targeted investments.
The divestiture marks a pivotal moment for BGSF as it moves towards strengthening its position in the property management industry and driving long-term value for shareholders.