Ewing, New Jersey – September 27, 2019 – Lyneer Staffing Solutions (“Lyneer”) has acquired Anchor Staffing, Inc. (“Anchor”) based in Hanover, Maryland. Financial terms were not disclosed.
Lyneer is a nationally recognized, strategic staffing firm servicing the commercial, financial, information technology, direct placement and managed service provider (MSP) verticals. In February 2018, Lyneer received an investment from Palm Beach Capital Fund IV, L.P. through one of its investment entities. Today, Lyneer stands as one of the prominent staffing firms in the industry placing over 50,000 new jobs each year servicing more than 1,600 customers across a variety of verticals.
Anchor is a mid-Atlantic regional staffing firm that specializes in commercial and information technology staffing. Their talented leadership group has over 35 years of combined staffing experience within the region.
Todd McNulty, Chief Executive Officer and Co-Founder, stated “We are excited to have Anchor Staffing become part of the Lyneer family and increasing our national growth and service capabilities throughout the Mid-Atlantic region.” Jim Radvany, Chief Financial Officer and Co-Founder, adds “This was an excellent opportunity for us to acquire a company with an experienced team that shares the same core values of Lyneer.”
Roger Needham, CEO of Anchor Staffing, stated, “We are excited to be part of the Lyneer team. This is a great opportunity to reach more customers and create even more opportunity for our employees.”
Founded in 2005, Anchor Staffing has offices throughout the Baltimore, Maryland and south-central Pennsylvania regions. Anchor for over a decade has developed long standing relationships with some of the most prominent clients within the area.
Headquartered in Ewing Township, New Jersey, Lyneer Staffing Solutions, LLC is a $380 million national staffing company specializes in the placement of temporary, temp-to-perm and permanent labor within various industries. Lyneer employs approximately 380 professionals that serve its vast customer base from over 100 office locations across the nation. For more information, please visit the Company’s website at www.lyneer.com.
About Palm Beach Capital
Founded in 2001, Palm Beach Capital is a private equity investment firm with offices in both West Palm Beach and Sarasota, Florida. Currently investing out of its fourth committed fund, the firm focuses on high growth investment opportunities and partners with management teams in middle market management buyouts, recapitalizations and growth equity investments. Since its inception, Palm Beach Capital has made investments in 49 portfolio companies. For more information, please visit the firm’s website at www.pbcap.com.
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