Plano-based-BGSF Inc. (NYSE: BGSF) has agreed to sell its Professional Division to Florida-based INSPYR Solutions, a portfolio company of A&M Capital Partners, in a $99 million all-cash deal.

BGSF is a provider of consulting, managed services, and professional workforce solutions.

“We’re very excited to announce our plan to acquire BGSF’s professional workforce solutions division,” Trent Beekman, CEO of INSPYR Solutions, said in a statement. “We look forward to welcoming these exceptional teams to the INSPYR Solutions family and working together to reach new heights in our industry. This acquisition will further strengthen INSPYR Solutions’ technology and talent solutions with the addition of new strategic partnerships.”

INSPYR, which has offices in major cities across the U.S., including locations in Addison, Houston, and Austin in Texas, was recognized as one of the largest IT staffing firms in the country as of 2024 by Staffing Industry Analysts. The firm was formed through the 2022 merger of two established technology staffing firms: TekPartners, founded in 2002, and Genuent, founded in 2006. The company has continued to expand through acquisitions, including the 2023 purchase of Dallas-based Ntelicor.

INSPYR to acquire BGSF Professional group

The deal between BGSF and INSPYR encompasses BGSF’s Professional segment, comprising its IT Consulting, Finance and Accounting, Managed Solutions, and Near and Offshore Software Engineering practices, the company said. The transaction is expected to close during the second half of 2025.

Beth Garvey, chair, president, and CEO of BGSF, said her company is “excited for this milestone and the journey ahead for our Professional team as they help lead the next phase of growth as part of INSPYR.”

“We’re extremely proud of all the talented people in the Professional division who contributed to BGSF’s 18 years of success and growth since our founding in 2007, and we wish them the best,” Garvey added in a statement. “I want to thank our dedicated and talented Professional team for their many contributions, and I am confident their expertise, integrity, and commitment will drive further success under INSPYR Solutions.”

Garvey to ‘pursue other interests’ effective July 1

As a result of the transaction, BGSF said Garvey will transition from her role within the company to pursue other interests, effective July 1. Also, BGSF board member and former Dallas Mavericks CEO Cynthia (Cynt) Marshall, will be resigning from the BGSF board effective July 1.

The company’s board has selected Kelly Brown, president of Property Management Division and CFO Keith Schroeder to act as interim co-CEOs following the departure of Garvey.

Their focus will be on growing the Property Management Division and right sizing the company, BGSF said.

“We thank Beth for her many efforts and accomplishments during her 12-year career at BGSF. Beth led the integration efforts following multiple acquisitions during her time as COO and as CEO led the efforts to expand our service platform as well as lead the tech modernization efforts of the company. We wish Beth all the best in her future endeavors,” BGSF Board Director Doug Hailey said in a statement.

BGSF said it intends to use the net proceeds to substantially eliminate its outstanding debt and to make advantageous investments in its property management business. The board will work with its financial advisors to determine the best use of the remaining proceeds to maximize shareholder value while continuing to evaluate its strategic alternatives.