The Staffing Group to Acquire North Dakota Industrial Staffing Firm
Company Plans Industry Roll-up
(firmenpresse) - ATLANTA, GA -- (Marketwired) -- 02/11/16 -- The Staffing Group, Ltd. (OTC PINK: TSGL) (the "Company"), today announced it plans to acquire a North Dakota industrial staffing firm.
With three locations operating in North Dakota, the acquisition target provides skilled personnel to various industries including trucking, manufacturing, construction, and the oil and gas industry in the Bakken Shale Region.
The proposed transaction is expected to add as much as $6 million in revenue to the Company in 2016 and in excess of $8.5 million in 2017. Definitive terms are being finalized and the Company expects to close on the acquisition upon a successful completion of its equity raise. On February 4, 2016, the Company filed a Form D with the U.S. Securities and Exchange Commission, stating its intention to raise $5 million in a non-brokered private placement.
After divesting underperforming assets and a swift clean-up of its balance sheet at the end of 2015, the Company is now focused on executing an aggressive buy-and-build strategy through the acquisition and integration of small to medium sized staffing businesses with focus on the light industrial, engineering, manufacturing and construction staffing space. The Company believes the light industrial staffing segment is ripe for consolidation and will seek accretive acquisitions that will drive annual revenues to $75 million within the next 36 months.
Safe Harbor Statement
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of The Staffing Group, Ltd.., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may", "would", "will", "expect", "estimate", "can", "believe", "potential", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond The Staffing Group, Ltd.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in The Staffing Group, Ltd.'s filings with the U.S. Securities and Exchange Commission.
The Staffing Group, Ltd.
Kim Thompson
678-881-0834
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 11.02.2016 - 12:30 Uhr
Sprache: Deutsch
News-ID 450127
Anzahl Zeichen: 0
contact information:
Town:
ATLANTA, GA
Kategorie:
Farming
Diese Pressemitteilung wurde bisher 374 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"The Staffing Group to Acquire North Dakota Industrial Staffing Firm"
steht unter der journalistisch-redaktionellen Verantwortung von
The Staffing Group, Ltd. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
