Daily NewsView All News
A new firm named Staffing 360° Solutions (OTCBB: GDNF.OB) announced it has commenced operations and intends to acquire staffing firms in the information technology, financial, accounting, healthcare and banking industries.
“Management at Staffing 360° believes the opportunity exists to build a high growth, large, dominant publicly held franchise by combining many smaller entities in the major U.S. and European markets,” the company announced.
“Staffing 360° has developed a significant pipeline of acquisition targets with the overriding objective of obtaining a minimum of $250 million in annualized revenues within three years,” said CEO Allan Hartley. “Although no guarantees can be made that we will acquire the companies necessary to meet our targets, we strongly believe that the current macro-economic environment, combined with our highly experienced management team, will allow us to fully execute our aggressive growth plan.”
Hartley is managing partner of Trendman Group LLC, a Boston-based consulting firm to the staffing industry. Hartley began Trendman in 2009. Hartley was also part of the team in 2005 that formed AccountAbilities Inc., now Corporate Resource Services. From 1995 to 2005, Hartley worked in various staffing industry consulting capacities including Resources Connection Inc. (NASD: RECN), Norell’s Professional Group and RSM McGladrey’s outsourcing group. In 1994, he founded Creative Financial Staffing Inc.
Staffing 360°’s initial acquisition profile is for firms with between $10 million and $75 million in revenue and a minimum of $1.0 million in EBITDA with a concentration in professional staffing.