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HireQuest to acquire Arkansas-based TEC Staffing Services

October 24, 2023

HireQuest Inc. (NASDAQ: HQI), a staffing franchisor, agreed to acquire TEC Staffing Services, a provider of light industrial, clerical, technical and professional staffing based in Fort Smith, Arkansas.

TEC’s offices will be converted to HireQuest’s Snelling franchise model and will transition to the Snelling brand. Terms of the transaction were not announced, and HireQuest said the integration of TEC’s offices into the Snelling network can be achieved without requiring additional corporate staffing.

TEC Staffing Services, founded in 1979, operates 10 offices across Northwest and Central Arkansas. It 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 serving Northwest and Central Arkansas for over 40 years and we believe this acquisition provides an excellent opportunity to expand our footprint and enhance the Snelling brand in this region,” HireQuest President and CEO Rick Hermanns said in a press release. “TEC is an ideal addition, strengthening our core staffing competencies and we look forward to welcoming their offices as part of the Snelling franchise family.”

The transaction is expected to close in the fourth quarter, subject to closing conditions. During the interim, all the offices will continue to operate as TEC Staffing Services.

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