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CastleBranch Sells Off Part Of Company

By Audrey Elsberry, posted Mar 19, 2024
Professional services company CastleBranch sold its background screening and compliance services to Texas business-to-business service firm DISA Global Solutions, according to a release from CastleBranch officials Tuesday.

CastleBranch's clinical experience platform, CB Bridges, was not included in the acquisition and will remain a separate entity under a new name, Bridges EXP, according to CastleBranch officials. CastleBranch has more than 400 employees, according to its website. In 2020, the company employed 425 people. 

The business services firm's workforce will be split between CastleBranch, now a DISA Glocal Solutions Company and the separated Bridges EXP, the release stated. Both entities will operate out of CastleBranch's headquarters at 1844 Sir Tyler Drive, CastleBranch spokesman Mike Flack told the Business Journal. All employees will remain on staff throughout the transition, according to Flack. 

"We anticipate continued growth, and both companies are committed to further enhancing our presence, impact and contributions to the Wilmington community through our strategic partnership," CastleBranch and DISA Global Solutions officials said in a joint statement. 

The deal went into effect on March 1, according to a DISA Global Solutions release. Acquiring CastleBranch's screening services expands DISA's depth of screening and compliance services, according to DISA officials. The Texas-based company plans to invest in technology, security and customer experience. 

Stifel, an investment services firm with an office in Wilmington, served as DISA's financial advisor during the acquisition. Financial terms of the deal were not disclosed, according to Flack and DISA's release. 

CastleBranch expanded its headquarters in 2020 with the purchase of two neighboring buildings at 1844 and 1838 Sir Tyler Drive. In April 2023, Legg Properties, managed by MegaCorp Logistics CEO Ryan Legg, bought 1845 Sir Tyler Drive for nearly $9 million.
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