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Acquisition roundup: BGSF, HireQuest, DHR Global

December 13, 2022

BGSF Inc. (NYSE: BGSF) announced the acquisition of Horn Solutions Inc., while HireQuest Inc. (NASDAQ: HQI) closed on its deal with MRINetwork and DHR Global acquired Boyden’s offices in Calgary and Saskatoon, Canada.

BGSF Inc.

BGSF Inc., a Plano, Texas-based staffing provider, acquired Horn Solutions Inc., a Sugar Land, Texas-based consulting, managed services and staffing provider with a focus on finance/accounting and IT.

Horn posted revenue of $30 million in the 12 months ending September. It also has offices in Dallas and Austin, Texas.

“Horn’s people and relationships add depth and breadth to our existing high-value business consulting and managed service platforms, allowing us to expand on our existing IT-managed services,” BGSF Chair, President, and CEO Beth Garvey said. “In 2023 and beyond, we anticipate cross-selling opportunities as well as synergies.”

HireQuest Inc.

HireQuest Inc. (NASDAQ: HQI), a South Carolina-based staffing franchisor, completed the acquisition of certain assets of MRINetwork, an executive recruiting network headquartered in Delray Beach, Florida. HireQuest in November agreed to pay approximately $13.5 million before working capital adjustments.

MRI brings an additional franchise offering for the company as well as 232 US and international franchise offices.

DHR Global

DHR Global, a Chicago-based executive search firm, acquired the Calgary and Saskatoon offices of global executive search firm Boyden. The acquisition adds 12 partners, associates and administrative professionals to the DHR Calgary office, expanding DHR Global’s footprint in Canada.

“We’re pleased to build on our reach, resources and relationships in Canada with the acquisition of Boyden’s Calgary office,” DHR Global CEO Geoff Hoffmann said.

DHR Global was founded in 1989 and ranks ninth on SIA’s list of largest retained search firms in the US. It serves more than 50 markets spanning 22 countries.