Key Developments: Providence Service Corp (PRSC.O)

PRSC.O on Nasdaq

25 Jul 2014
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$0.13 (+0.33%)
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Latest Key Developments (Source: Significant Developments)

Providence Service completes acquisition of Ingeus Ltd
Tuesday, 3 Jun 2014 08:00am EDT 

Providence Service Corp:Completes acquisition of all of the outstanding equity of Ingeus Limited, a distributed workforce development company in outsourced employability programs, effective May 30.Signs acquisition agreement on March 31.  Full Article

Providence Service Corporation agrees to acquire Ingeus Limited
Monday, 31 Mar 2014 09:00pm EDT 

Providence Service Corporation:Entered into an agreement to acquire Ingeus Limited.Ingeus has operations in 10 countries and four continents and is recognized as a pre-eminent distributed workforce development company and market leader in outsourced employability programs.Providence will acquire 100 pct. of Ingeus for 35 million pounds in cash payable at closing and restricted stock and cash with a combined value of 14,345,794 poiunds.To the extent certain thresholds and performance hurdles are met during the five-year period following closing of the transaction, Providence could also pay up to 75 million pounds.The transaction is anticipated to close in the second quarter of 2014.  Full Article

Providence Service Corp Announces Amended and Restated $225 Million Credit Agreement
Monday, 5 Aug 2013 08:30am EDT 

Providence Service Corporation announced that it has refinanced its existing credit facility with an amended and restated senior secured credit facility in an aggregate principal amount of $225 million. The amended and restated credit facility is comprised of a $60 million, five-year term loan and a $165 million, five-year revolving credit facility. In addition to refinancing the Company's existing debt obligations, the proceeds of the amended and restated senior secured credit facility may be used to, make capital expenditures such as acquisitions, repay Providence's 6.5% Convertible Senior Subordinated Notes due in 2014, fund ongoing working capital requirements, and for other general corporate purposes.  Full Article

Providence Service Corp Announces Executive Leadership Changes
Monday, 19 Nov 2012 09:01am EST 

Providence Service Corp announced that Fletcher Jay McCusker, the Company's Chief Executive Officer, will retire from the Company to pursue other interests by the end of the year. Effective immediately, Warren Rustand, Providence's Lead Director, has been appointed Interim Chief Executive Officer. Mr. McCusker will also step down from his role as Chairman of the Board of Directors and as a director. Christopher Shackelton, Managing Partner at Coliseum Capital Management, one of the Company's shareholders, and a director of the Company, will become Chairman of the Board. The Company also announced that Michael Deitch, Chief Financial Officer, will retire from the Company to pursue other interests by the end of the year. Robert Wilson, formerly a Managing Director at the international accounting firm Grant Thornton within the firm's Health Care Advisory Services practice, has been appointed Chief Financial Officer.  Full Article

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