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Bridge Opportunity Finance Provides $9.2 Million Facility To Mercer Staffing, Inc. For Acquisition Chicago, IL -- August 25, 2005 - Bridge Opportunity Finance, a division of Bridge Healthcare Finance, today announced the completion of a $6.2 million revolver and $3 million term loan under an existing acquisition line to Mercer Staffing, Inc., a staffing company headquartered in Doylestown, Pennsylvania. The funding was used to acquire Quantum Resources, Inc., a staffing company with nine branches in the Southeast United States and Michigan. Mercer Staffing is one of the fastest growing staffing companies in the Mid-Atlantic region serving the transportation, clerical, mental health, social work, light industrial and hospitality industries. The staffing industry is highly fragmented with many under-capitalized national, regional and local providers which Mercer plans to leverage through its acquisition strategy. Mercer successfully closed and integrated two acquisitions in 2004. Quantum is the first acquisition in 2005 under Mercer’s acquisition plan. "The acquisition of Quantum Resources, Inc. will increase Mercer’s market share and domestic presence. Bridge helped us refinance our existing secured lenders in February of 2005. We knew they understood our aggressive acquisition strategy and provided us the capital we needed to take advantage of the Quantum opportunity,” said Michael Traina, Chief Executive Officer. “The Mercer closing underscores our expertise in helping customers fund acquisitions,” says Randy Abrahams, President and CEO of Bridge Healthcare Finance. “Our responsiveness and industry expertise allowed Mercer to capture the Quantum opportunity within 18 days from introduction.” About Bridge Finance Group Bridge Finance Group offers a combination of comprehensive loan products, decades of financial expertise and an unparalleled service approach unique to the healthcare lending industry. Through accounts receivable, cash flow and real estate based term loan lending products, Bridge is able to address the differing capital needs of the healthcare industry. Bridge is based in Chicago, Illinois with offices in Hartford, Connecticut and Irvine, California. For more information visit Bridge Finance Group at www.bridgefinancegroup.com.Contact: |
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