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HireQuest closes acquisition of TEC Staffing Services

December 05, 2023

HireQuest Inc. (NASDAQ: HQI), a staffing franchisor based in Goose Creek, South Carolina, announced Dec. 4 that it closed its acquisition of TEC Staffing Services, a Fort Smith, Arkansas-based light industrial, clerical, technical and professional staffing provider.

The acquisition was first announced Oct. 24.

In addition, HireQuest also closed on the sale of all of TEC’s offices throughout Northwest and Central Arkansas to franchisees and completed converting the offices to HireQuest’s Snelling franchise model.

TEC Staffing Services, founded in 1979, generated more than $34 million in total revenue for the trailing 12-month period ended Sept. 30.

“TEC Staffing Services has been a premier provider of staffing services to the employers and workers in Northwest and Central Arkansas for over 40 years,” Rick Hermanns, president and CEO of HireQuest, said in a press release. “We have some great teams of our existing franchisees partnering with members of TEC’s leadership, and we’re excited for the opportunity they have to continue serving the region as part of the Snelling franchise family.”

Founded in 2002, HireQuest operates more than 400 offices through its HireQuest Direct, HireQuest, Snelling, HireQuest Health, DriverQuest, TradeCorp, MRI, SearchPath Global and Northbound Executive Search brands.