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Staffing 360 exec says firm aims to double in size

April 23, 2018

Staffing 360 (NASD: STAF) Chairman and CEO Brendan Flood wrote in a letter to shareholders that the company’s goals are to achieve 10% organic growth this year and to double its size to $500 million in revenue over the next two years.

“We are now well positioned to take advantage of a fragmented staffing market and are seeking additional accretive acquisitions that could each at least $50 million in revenue,” Flood wrote.

The New York-based staffing provider posted revenue of $192.7 million in 2017, a 6% increase compared to the previous year.

Flood also looked back over the previous year and cited several landmark events for the company, including a capital raise of $40 million with Jackson Investment Group; the acquisition of CBSbutler Holdings Ltd., a $65 million staffing firm in the UK, the acquisition of firstPRO Georgia, a $20 million-firm based in Georgia; and an expanding footprint in the US. The company now has operations in eight US states and two locations in London.