🠈  EmployBridge  🠊

EmployBridge Holding Company

EmployBridge is the holding company for a network of staffing firms. When I visited the EmployBridge web site in September 2019 they listed the following subsidiaries:

Mergers and an Accounting Scandal.

I admit. This profile is confusing. It appears that several staffing firms collapsed during the Great Recession. Private equity firms took over and reassembled the firms into one.

What is really confusing about this merger chain is that a company called Select Staffing, a subsidiary of the holding company New Koosharem, acquired EmployBridge in a $410 million deal led by Morgan Stanley. There were irregularities in Select's books. News reports claim that the CEO D. Stephen Sorenson had improperly transferred $2.7 million to family members. The company fired Mr. Sorenson and the company has since consolidated around the name EmployBridge.

Mr. Sorenson is now on the advisory board of BYU Business School.

Corporate History

Since Select was listed as the buyer, I will present the merger chain from Select's perspective:

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  1. - Westaff (Drawn 9/13/2019)
  2. PR Newswire - EmployBridge acquires Employment Plus (Drawn 9/14/2019)
  3. Street Insider - Shareholders Dissolve Atlas (Drawn 9/14/2019)
  4. ProDrivers acquires Road Dog Drivers (Drawn 9/14/2019)
  5. Morgan Stanley Acquires EmployBridge (Drawn 9/14/2019)
  6. NSBanker - Morgan Stanley acquires EmployBridge (Drawn 9/14/2019)
  7. The Tribune -Employment Plus Changed to ResourceMFG (Drawn 9/14/2019)

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