has issued

Series A Preferred Stock

to an investor group led by


Gevity is a provider of
outsourced human capital
management solutions.

The undersigned acted as financial advisor to Gevity in this Transaction

Gevity

Description

Gevity is one of the largest human resources outsourcing companies in the United States with approximately 85,000 worksite employees, and 2002 net revenue of over $370 million. The Company offers its clients, which are typically small to medium-sized businesses with between 20 and 100 employees, a broad range of high-quality products and services that provide a complete solution for their human resources outsourcing needs.

Situation

The Company’s new CEO approached Croft & Bender with two primary objectives: (1) to repurchase a large amount of stock from the Company’s largest shareholder and (2) to provide additional capital that would further support management’s growth strategy. Croft & Bender was hired to draft the offering memorandum, market the Company to interested parties, and to analyze, structure, and negotiate a transaction that would raise the necessary capital.

Result

Croft & Bender successfully raised capital for the Company with three institutional investors, including Frontenac Company, Adams Street Partners, and SunTrust Equity Partners. C&B Capital also participated in the transaction.