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GEE Group (JOB)

Recruitment

GEE Group Inc. is a provider of specialized staffing solutions and is the successor to employment offices doing business since 1893. The Company operates in two industry segments, providing professional staffing services and solutions in the information technology, engineering, finance and accounting specialties and commercial staffing services through the names of Access Data Consulting, Agile Resources, Ashley Ellis, General Employment, Omni-One, Paladin Consulting and Triad. Also, in the healthcare sector, GEE Group, through its Scribe Solutions brand, staffs medical scribes who assist physicians in emergency departments of hospitals and in medical practices by providing required documentation for patient care in connection with electronic medical records (EMR). Additionally, the Company provides contract and direct hire professional staffing services through the following SNI brands: Accounting Now®, SNI Technology®, Legal Now®, SNI Financial®, Staffing Now®, SNI Energy®, and SNI Certes. (From press release)

BDC Credit Reporter View

8/25/2018: GEE Group is rated CCR 2, but recent quarterly results saw revenues drop 12% and debt to EBITDA remain elevated. We are adding to our Watch List and changing rating to CCR 3.

CMFN is the only BDC lender to the Company with a $12.5mn First Lien loan priced at a high LIBOR + 13.75% that was just added in the IQ of 2018. We do not have the IIQ 2018 valuation as yet.