BG Staffing Inc. (NYSE: BGSF) acquired substantially all the assets of L.J. Kushner & Associates LLC, a provider of cybersecurity retained search services for high- and midlevel security professionals.
Plano, Texas-based BG Staffing paid $8.5 million in cash and issued $1.0 million of common stock, subject to a working capital adjustment. The asset purchase agreement also provides for earn-out payments up to an aggregate of $2.5 million if certain conditions are met over a two-year period.
The transaction occurred Dec. 13, 2019.
L.J. Kushner & Associates fills chief information security officer positions and technical leadership positions, among other services.
BG aims to broaden its service offerings with the deal. The company already provided staffing in IT, finance/accounting, light industrial, and the multifamily housing industry including apartment management firms.
The L.J. Kushner & Associates trade name will remain and operate as a separate brand under the BG Staffing umbrella.
BG Staffing in November transferred to the New York Stock Exchange from the NYSE American exchange. L.J. Kushner & Associates marks its 10th acquisition since 2009.
