GulfStar Group Arranges $4 million of Series D Preferred Stock for Headway Workforce Solutions
HOUSTON, September 19, 2013 - GulfStar Group ("GulfStar") is pleased to announce that it arranged the private placement of $4 million of Series D Preferred Stock for Headway Workforce Solutions ("Headway" or the "Company"). The investment closed on September 10, 2013.
Headway is a leading provider of human capital solutions with a breadth of integrated services tailored to meet the complex challenges of large scale contingent and permanent employee recruitment, retention and workforce optimization. The Company’s innovative model couples centralized processing with automated candidate databases specifically targeted to industry sectors, efficient web-enabled candidate screening, web-enabled employee on-boarding and payroll processing capabilities. This high level of recruiting workflow automation has positioned Headway to emerge as a leading provider of high-volume, nationwide workforce solutions.
“I have had the good fortune of working with the professionals at GulfStar for a number of years on a variety of transactions. Once again their creative approach coupled with a resolute determination to get the right capital structure in place for Headway was evident in this transaction,” said Headway CEO JP Sakey.
The GulfStar team included Managing Director Tom Hargrove, Vice President Justin Moers and Analyst Caroline Incavo. “GulfStar is pleased to have had the opportunity to work with Headway’s management team to complete this important transaction,” said Hargrove. “The Company’s unique technology platform will enable Headway to differentiate itself in the marketplace by providing superior service at a reasonable cost.”
About GulfStar Group
GulfStar is a leading middle market investment and merchant bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed over 575 transactions in more than 30 states and seven foreign countries across a variety of industries. Through its merchant banking affiliate, the firm also makes equity and subordinated debt co-investments.
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