BGSF completes sale of Light Industrial segment for $30.3M plus potential earnout

BGSF, INC.

Sold Light Industrial (InStaff) assets to Sentech Engineering for $30.3M cash at closing plus $2M on first anniversary.
Sentech also assumed certain liabilities; company will provide back-office services for a limited time.
Proceeds to be used for managed services, Real Estate segment expansion, M&A, and debt reduction.
Light Industrial segment had been classified as discontinued operation in prior 10-K filing.
Asset Purchase Agreement includes customary reps, warranties, non-compete, and indemnification.

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