IT Staffing Report: May 4, 2017

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ApTask buys Midwest firm

ApTask, an Edison, N.J.-based staffing company, acquired Planet Group Inc., effective April 8.

Planet Group, an IT professional staffing services firm based in Omaha, Neb., expands ApTask’s footprint in the Midwest and will serve as a regional hub for ApTask’s Midwest and “silicon prairie” operations.

The Planet Group brand will transition to ApTask. Financial details are confidential, but the firm’s owner-operator is retiring. The sales recruiting team will remain. The Planet office will continue to be led by Jeff Warren. Recruiting and client delivery will be managed by ApTask COO Abdulla Sheikh. ApTask CEO Joseph Butler will oversee the integration of Planets' clients.

Planet Group has one office and three to four major clients in the Midwest.

“Planet thoroughly understands the nature of talent demand for skilled technical professionals across the Midwest and ‘Silicon Prairie,’” Butler said. “Its deep reach in the talent pool, particularly in the IT and engineering sectors, combined with ApTask’s suite of workforce solutions, will be extremely valuable to existing ApTask clients. This acquisition fits perfectly into our strategic growth plan and will hopefully springboard ApTask’s growth into the Midwest and Western markets.”

Although ApTask provides a significant amount of back-office staffing – accounting, legal, finance and administration – 65% to 70% of its business comes from the IT sector. It counts about $50 million in annual revenue and places about 310 consultants.

ApTask reports it will remain on the acquisition trail throughout 2017 and 2018 and has several near-term deals in its pipeline. The company plans to double in size by the end of 2018 and complete $50 million in acquisitions in the next 18 months. It seeks firms with as much as $25 million in annual revenue and is particularly interested in the Southeast and the Midwest toward Chicago. ApTask would also like to add a West Coast footprint.