Steve Dresner
Dresner Partners
Damian Services Corporation
Deal Type
Company sale
Sector
Business Services
Completion Date
17th March 2015
Deal Value
Not disclosed
Company Background
Chicago-based Damian Services Corporation provides the temporary staffing industry with payroll processing, payroll tax preparation and filing, invoicing and accounts receivable management, business reports, credit analysis, and software. In addition, Damian’s unlimited temp payroll funding gives staffing services the financial capacity to grow in a cash-intensive industry and compete with national and regional providers.
Deal Summary
Advised Damian Services Corporation in its sale to Sterling Bancorp (NYSE: STL), through its principal subsidiary Sterling National Bank. Damian provides back office services and payroll funding to the temporary staffing industry throughout North America. Sterling Bancorp is a bank holding company that provides a variety of financial and banking services. Terms of the transaction were not disclosed.
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