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Bank of America Business Capital Provides $85MM ABL to Seaton Corp.

September 24, 2013, 07:51 AM
Filed Under: Staffing Services

Bank of America Business Capital announced it has provided a new $85 million credit facility to Seaton Corp. Proceeds will be used to refinance debt and support working capital, and the facility has been structured to increase seasonally to fit the company’s working capital needs.

Seaton, a portfolio company of Leeds Equity Partners, is a $500+ million outsourcing and recruiting company that operates under the Staff Management | SMX, PeopleScout and StudentScout brands. Seaton was recently recognized as America's No. 1 job creator among privately held companies. Founded in 1988, the firm has more than 25,000 employees and operates in more than 60 countries.

Bank of America Business Capital is one of the world’s largest asset-based lenders, with more than 10 primary offices serving the United States, Canada and Europe. It provides corporate borrowers with senior secured loans of $10 million or more, cash management, interest rate and foreign exchange risk management, and a broad array of capital markets products.

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