PineBridge Investments, a New York-based private equity firm, has agreed to invest €26 million ($34.7 million) in Work Service, a publicly traded temporary staffing and personnel outsourcing company based in Wroclaw, Poland. PineBridge will hold 20.02% of the company's share capital and have two Supervisory Board seats upon closing. The additional capital will help Work Service pursue its acquisition strategy and further expand its presence in the CEE region, where the company is already starting to gain market share. PineBridge is using its New Europe Partners II fund, a €522 million ($697 million) fund that invests in Central and Eastern Europe, to finance the transaction.
