ATLANTA (December 16, 2016) – Smith, Gambrell & Russell, LLP (SGR) is pleased to announce the firm served as legal counsel to Adecco Group, the world’s leading provider of workforce solutions, in the merger of its subsidiary Beeline with IQNavigator. The transaction, which closed on December 12, 2016, combines the two leading Vendor Management Systems (VMS) providers creating the world’s number one independent technology provider for extended workforce solutions.
As a result of leveraging complementary technical strengths and the synergies of shared investment in new products, customers and partners will enjoy accelerated innovation and solutions enhancement, while continuing to receive reliable service, excellent support, and strategic account guidance. The combined company now has over 500 employees and continues to operate from offices in Jacksonville, Florida and Denver, Colorado and in the UK, Singapore and the Philippines.
Prior to this transaction, Beeline was a wholly owned subsidiary of the Adecco Group, and GTCR, a leading private equity firm, was the majority shareholder in IQNavigator. Following the merger, GTCR is the majority shareholder of the combined company, with the Adecco Group holding a minority interest and receiving consideration of $100 million in cash and $30 million in the form of a promissory note.
The SGR legal team included Partners Jay Schwartz and Julie Sebastian and Associate Emily McConnell in the Atlanta Corporate Practice Group and Joe Mandarino in the Atlanta Tax Practice Group. Partner Andy Fawbush and Associates Brandon Sherlinski and Quinn Baker in the Jacksonville Employee Benefits Practice and Partner Brett Lockwood in the Atlanta Corporate Practice Group handling licensing law were also involved.
About Adecco Group
The Adecco Group, based in Zurich, Switzerland, is the world’s leading provider of workforce solutions. With more than 33,000 FTE employees and around 5,100 branches in 60 countries and territories around the world, the Adecco Group offers a wide variety of services, connecting approximately 700,000 associates with our clients every day. The services offered fall into the broad categories of temporary staffing, permanent placement, career transition and talent development, as well as outsourcing and consulting. The Adecco Group is a Fortune Global 500 company. For more information about the Adecco Group, please visit www.adecco.com.
About Smith, Gambrell & Russell, LLP
SGR is a full service, international law firm that advises regional, national and global businesses on a wide range of legal matters. The firm’s 200-plus attorneys provide legal counsel in more than 45 specialized practice areas, including aviation, corporate transactions, litigation, intellectual property, banking, construction and employment law. Founded in 1893, SGR has offices in Atlanta, Austin, Jacksonville, New York, Washington, D.C. and Frankfurt, Germany.