BGSF, Inc. (BGSF) announced Monday that it has entered into a definitive agreement to sell its Professional Division to INSPYR Solutions, a portfolio company of A&M Capital Partners, for $99 million in cash.
The transaction is expected to close in the second half of 2025.
The Professional Division includes IT Consulting, Finance and Accounting, Managed Solutions, and Near and Offshore Software Engineering practices.
Proceeds from the deal will be used to eliminate outstanding debt and to invest in the Property Management Division.
As part of the transaction, Chair, President, and CEO Beth Garvey will step down, effective July 1, 2025, after 12 years with the company.
Board member Cynthia Marshall will also resign on the same date. The Board has appointed Kelly Brown, president of the Property Management Division, and Keith Schroeder, CFO, to serve as interim co-CEOs.
BGSF provides consulting, managed services, and workforce solutions across several sectors. Following the sale, the company will focus on expanding its Property Management Division, where interim leadership will concentrate efforts on growth and operational efficiency.
Currently, BGSF is trading at $5.56, up by 38.31 percent on the Nasdaq.
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