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The Staffing Group aims for $75 million in revenue through acquisitions

April 25, 2016

The Staffing Group Ltd. (OTCBB: TSGL) aims for more acquisitions and plans to have $75 million in revenue within the next three years, according to an open letter from CEO Kimberly Thompson.

“We continue to build a pipeline of potential acquisitions that achieve our goal of achieving annual revenues of $75 million within the next three years,” Thompson wrote. “While we have completed our first platform acquisition, we seek to acquire additional premium brands within the light industrial staffing industry with scalable business models, in addition to bolt-on acquisitions.”

On April 1, the firm completed the acquisition of four offices from its largest shareholder, Labor Smart (OTCBB: LTNC), Thompson wrote. Those offices will continue to operate under the laborSMART brand; the company last year entered into a licensing agreement with industrial staffing provider Labor Smart (OTCBB: LTNC) that allows The Staffing Group to utilize the brand in all future openings.

“On an annualized basis, we project 2016 topline revenue and EBITDA from these acquired office locations to exceed $7.5 million and $800,000 respectively,” Thompson wrote.

In addition, The Staffing Group reiterated its plans to acquire a North Dakota industrial staffing firm in a deal first announced in February.