MWIDM Split Into MWIDM & Pacer Staffing

MWIDM owners split companies into two staffing firms based on their equity.

PHILADELPHIA - October 27, 2021 - (Newswire.com)

MWIDM, Inc. has announced they will be divesting a portion of their business to Pacer Staffing. MWIDM has been in business since 2013 based on a partnership between its owners. Chanel and Vinny have decided to split their partnership into two separate companies. Pacer Staffing, 100% owned by Vinny Dhillon, will be taking over half of the clients/customers as of November 1, 2021. All clients will be notified individually as to which company (MWIDM or Pacer) they have been aligned.

1. Outline of the Company Split:

Important Dates:

Approval Date of the agreement of the company split by the Owners of MWIDM Inc.

October 15, 2021

Date of Execution of the company split Agreement

October 22, 2021

Effective Date of the company split (Scheduled)

November 1, 2021

2. Company Split Method:

  1. MWIDM will be split based on clients and total revenue of company 50% between both the owners.
  2. Each client will be communicated to separately by MWIDM and Pacer, respectively, based on allocation of client per delivery.

3. Outline of the Companies involved in the Company Split:

Name

MWIDM

Pacer Staffing

Location

301 Lindenwood Drive, Suite 110, Malvern, PA 19096

1445 City Ave, Suite 10B
Wynnewood, PA 19096

Position and Name of the Representative

Chanel Pennick
President & CEO

Vinny Dhillon
President & CEO

Scope of Business

Staffing & Recruitment Services

Staffing Services, RPO, Payroll and Total Talent Solutions

Fiscal year-end

December 31

December 31

4.  Outlook for the Future:

Both companies expect no impact to delivery for any clients as the split was based on client alignment with no changes made to the delivery teams by either of the companies. Dedicated teams will continue servicing their clients, business as usual.




Press Release Service by Newswire.com

Original Source: MWIDM Split Into MWIDM & Pacer Staffing

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