ATLANTA (August 7, 2018) – Smith, Gambrell & Russell, LLP (SGR) is pleased to announce the firm served as legal counsel to The Adecco Group, the world’s leading HR Solutions partner, in the sale of its remaining ownership interest in Beeline to New Mountain Capital.
Subject to customary closing conditions, the proposed transaction is expected to close in third quarter of 2018 and result in a gain on sale for the Adecco Group of approximately EUR Il0 million and after-tax cash proceeds of approximately EUR I72 million.
The SGR Atlanta legal team included Partners Jay Schwartz and Julie Sebastian in the Corporate Practice, along with Joe Mandarino, Partner in the Tax Practice. SGR also represented Adecco Group in Beeline’s merger with IQNavigator in December 2016, which created substantial value, establishing it as the leading independent Vendor Management System provider for extended workforce management solutions.
About the Adecco Group
The Adecco Group is the world’s leading HR solutions partner. We provide more than 700,000 people with permanent and flexible employment every day. With more than 34,000 employees in 60 countries, we transform the world of work one job at a time. Our colleagues serve more than 100,000 organisations with the talent, HR services and cutting-edge technology they need to succeed in an ever-changing global economy. As a Fortune Global 500 company, we lead by example, creating shared value that meets social needs while driving business innovation. Our culture of inclusivity, fairness and teamwork empowers individuals and organisations, fuels economies, and builds better societies. These values resonate with our employees, who voted us number 2 on the Great Place to Work® – World’s Best Workplaces 2017 list. We make the future work for everyone.
The Adecco Group is based in Zurich, Switzerland. Adecco Group AG is registered in Switzerland (lSlN: CH0012138605) and listed on the SIX Swiss Exchange (ADEN). The group is powered by nine lead brands: Adecco, Modis, Badenoch & Clark, Spring Professional, Lee Hecht Harrison, Pontoon, Adia, YOSS and General Assembly. For more information about the Adecco Group, please visit www.adeccogroup.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 more than 220 attorneys provide legal counsel in more than 45 specialized practice areas, including corporate transactions, litigation, intellectual property, aviation, banking, real estate, construction and employment law. Founded in 1893, SGR has offices in Atlanta, Austin, Jacksonville, London, Los Angeles, Munich, New York, Southampton, and Washington, D.C.