Vangst, a Denver-based staffing platform specializing in the cannabis industry, acquired CannabizTemp, the temporary staffing division of CannabizTeam, a cannabis-focused executive search firm based in San Diego.

The deal, which closed on April 10, comprises a 50% cash and 50% stock transaction and marks Vangst’s first acquisition in the cannabis HR space. CannabizTemp will now operate under the Vangst brand name.

CannabizTeam, founded by CEO Liesl Bernard in 2016, will continue its operations and focus on placing executives in the cannabis industry.

Prior to founding CannabizTeam, Bernard spent 20 years holding executive leadership roles at Robert Half Inc.

“This marks a pivotal moment for both Vangst and CannabizTeam. It enables us to concentrate on our respective areas of expertise, setting a new industry standard for specialization, providing a comprehensive talent solution to the industry,” Bernard said in a press release.

As a part of the transaction, Vangst customers will gain access to the Cannabiz executive recruiters. The integration of CannabizTemp customers into Vangst will commence immediately.

“CannabizTemp was hands down our largest competitor,” Vangst founder and CEO Karson Humiston said in a press release. “Liesl and her team built a phenomenal business with a strong and growing customer base, and we couldn't be more excited to welcome the CannabizTemp customers into the Vangst family.”

Vangst, which launched its on-demand hiring platform Vangst Gigs in 2018, has filled more than 200,000 cannabis-related  jobsacross 19 states.

The acquisition brings Vangst’s total customer count to more than 1,700, now serving 90% of all US multi-state cannabis operators.

The deal is a strategic alliance designed to leverage the unique strengths of both entities, according to the company.

Founded in 2015, Vangst has raised $30 million in venture capital and is backed by Lerrer Hippeau, Level One Fund, Colle Capital, Snoop Dogg’s Casa Verde Capital and others.