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Belcan deal excludes industrial staffing business

June 04, 2015

A private equity firm is acquiring family owned Belcan Corp., including its engineering and clinical/scientific staffing operations. However, BelFlex Staffing Network, the Cincinnati-based company’s light industrial staffing subsidiary, is not included in the transaction. Belcan ranked No. 38 on last year’s list of largest US staffing providers.

“We launched BelFlex as a separate, sister company to Belcan early in 2014 to focus on the light industrial staffing market,” said BelFlex CEO Michael McCaw. “Our family is now excited to place our focus and resources on growing BelFlex into an industry leader.”

BelFlex employs more than 5,000 employees and operates from 22 locations in the Midwest and Southeastern US.

Private equity investor AE Industrial Partners LLC is acquiring Belcan’s other operations. The transaction is expected to close by the third quarter of 2015; terms were not disclosed.

Belcan was founded in 1958 and is a supplier of engineering project management.

“Belcan is a world-class operation and the preeminent engineering services business in the jet engine marketplace,” said David  Rowe, managing partner of AE Industrial Parnters. “AEI has first-hand experience with Belcan’s capabilities and reputation within the large original equipment manufacturers, so we have a special appreciation not only for the company’s unique niche in the propulsion industry but also for its highly attractive growth potential in related markets.”