EmployBridge, the largest US industrial staffing firm, is being acquired by Apollo Global Management Inc. (NYSE: APO), an asset management firm based in New York.

The deal is subject to customary closing conditions, including regulatory approvals. It’s expected to close in July; terms of the transaction were not announced.

“Looking forward, we see a significant opportunity to grow and enhance the EmployBridge platform through investments in technology and the associate experience and continuing to introduce innovative new engagement models,” said Robert Kalsow-Ramos, private equity partner at Apollo.

EmployBridge had more than $2.9 billion in revenue during 2020. It puts more than 400,000 temporary associates to work annually across a network of more than 365 offices in 48 states.

“This is a significant milestone for our company made possible by the tremendous work of our teams who are the strength behind our brands and who are passionate about finding solutions to enhance the associate experience,” EmployBridge CEO Michael Miles said.

Miles had taken over the CEO role at EmployBridge in 2019.

“We’ve had an amazing partnership with EmployBridge over the past seven years to create the largest industrial staffing company in the US,” EmployBridge Chairman Al Aguirre said. “Given current market dynamics and the strong demand for labor across the supply chain, our board of directors determined this transaction with Apollo was in the best interest of our shareholders and would provide the best path to accelerate EmployBridge’s growth.”

EmployBridge and Select Staffing were combined in a deal announced in 2015.