Sverica Capital Management announced the sale of portfolio company The Bartech Group to Impellam Group (LON: IPEL). The deal involves an initial payment of $120 million, which represents $88 million on a debt-free, cash-free basis. The payment will be satisfied with $115.4 million in cash, to be drawn from Impellam’s four-year £250 million revolving credit facility recently put in place with Barclays as lead bank and includes HSBC, RBS, Wells Fargo, Fifth Third and KBC. The remaining $4.6 million will be satisfied through the issue of new ordinary shares in Impellam. Established in 1977, Bartech is a professional services firm that offers global workforce management and staff augmentation solutions. For the 12 months to December 31, the company is expected to achieve an adjusted EBITDA of $12.8 million on net fee income of $48 million and turnover of $272 million. Sverica acquired a majority interest in Bartech in 2012.