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Staffing 360 discusses Lighthouse deal and future acquisitions

July 27, 2015

Staffing 360 provided more color last week on its acquisition of engineering staffing firm Lighthouse Placement Services LLC in a conference call with analysts, and discussed upcoming acquisitions as well. The Lighthouse deal was valued at an aggregate purchase price of $6.25 million.

“With approximately $15 million in revenue, management believes Lighthouse brings another strong company to our portfolio with a specialization in engineering staffing services,” said President and CEO Matt Briand. “Our strategy is to keep everything that made Lighthouse a success in place and continue to grow their business and support their sales initiatives.”

Lighthouse serves the Eastern Massachusetts and Southern New Hampshire areas. The management team will remain and it will be largely business as usual at Lighthouse, Briand said.

The acquisition closed July 8.

Staffing 360 is focused on growth. Executive Chairman Brendan Flood said the company has grown from zero to more than $145 million in annualized revenue in less than two years when counting the Lighthouse deal. The firm has other deals in the works as well.

“Moving forward, we have three acquisitions under letter of intent, which would add another $160 million of annualized revenue to our current run rate,” Flood said.