Apollo said it was drawn to EmployBridge amid increasing market demand, calling the business the largest industrial staffing company in the US. It scored nearly $3bn in annual revenues last year according to sources.
Robert Kalsow-Ramos, private equity partner at Apollo, said, “EmployBridge is a leading provider of specialized workforce solutions and uniquely positioned to support the increasing and complex demands of corporations across the supply chain.
“Looking forward, we see a significant opportunity to grow and enhance the EmployBridge platform through investments in technology and the associate experience and continuing to introduce innovative new engagement models.”
EmployBridge was previously under private equity control between 2011 and 2015, thanks to a $165m buyout from Morgan Stanley Global Private Equity and Constitution Capital.
The pair sold their stakes in the company to The Select Family of Staffing Companies in 2015 for about $410m.
Apollo raised more than $2.3bn for Accord Fund IV in February, less than a year after it collected $1.75bn for Accord Fund III in a matter of weeks. It was also said to be eyeing up to $3bn for Apollo Infrastructure Opportunities Fund II last year.
The firm lost its second of three co-founders Josh Harris last month amid apparent dismay at being passed over for CEO. Co-founder Leon Black had left in March in the wake of an investigation into his business dealing with paedophile Jeffrey Epstein.
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