Merit Capital Partners is pleased to announce the successful exit of its Fund VI investment in The Liberty Group (“Liberty” or the “Company”). Liberty was sold in June 2022 to The Halifax Group.
Merit made its investment in Liberty in December 2020 in partnership with Six Pillars Partners and the Company’s founder and President, Ken Bohan. The Liberty Group is one of the largest providers of temporary staffing services to the multifamily residential industry in the United States. Founded in 1977 and headquartered in Houston, Texas, the Company currently operates in 30 markets across 23 states and prides itself on its local market expertise and longstanding relationships with the nation’s leading property management companies. Its Specialty Staffing division provides high-quality candidates to fill short-term staffing needs across a variety of positions, including maintenance technicians, leasing agents, groundskeepers, porters, and others. Its Executive Search division sources and places highly skilled and experienced candidates into roles across all aspects of multifamily real estate operations and management. Liberty also offers employee screening services to clients through its Liberty Screening Services division.
Merit invested both subordinated debt and equity to support its 2020 recapitalization of The Liberty Group. Ken Bohan, Liberty’s founder, commented “Six Pillars and Merit Capital Partners were collaborative partners throughout the journey. They actively supported the business through our collective value creation efforts and facilitated a favorable outcome for all stakeholders. Six Pillars and Merit Capital Partners respected the Liberty culture and worked in unison with the management team to maintain that culture.”
Merit and Liberty were advised on the transaction by Kroll Securities, LLC and Winston & Strawn LLP. Please contact Ben Yarbrough or Sean Stanley for additional information.