PLANO, Texas–(Organization WIRE)–BGSF, Inc. (NYSE: BGSF), a developing nationwide provider of workforce remedies, today declared it done the acquisition of substantially all of the assets of Momentum Solutionz, LLC. The buy rate is composed of $3.78 million paid out at closing and up to $2.22 million in earnout primarily based on reaching particular agreed on performance targets in the initially two yrs soon after closing, topic to customary buy selling price changes. Momentum Solutionz described unaudited revenues of approximately $3 million in fiscal calendar year 2020.
Momentum Solutionz is the 12th acquisition built by BGSF considering that 2009 as part of its growth tactic to improve and expand its portfolio of provider offerings and abilities. The acquisition of this major consulting and managed IT remedies supplier not only broadens BGSF’s IT solutions choices throughout its put in consumer companion foundation but also results in a market advancement possibility for higher-level advisor placements.
Momentum Solutionz delivers successful IT remedies to clients by providing modern and adaptable ways that produce best-degree overall performance and unrealized price. The business leverages an business primary ticketing method in get to enhance the effectiveness, pace, routing and resolution of jobs and initiatives. Momentum is a identified innovator that supplies customized IT answers to fulfill the desires of intricate enterprise processes, including:
Beth A. Garvey, President and CEO of BGSF, reported, “We are fired up to welcome the Momentum Solutionz group and provider suite as part of our workforce. We have partnered with their management and integrated groups for many yrs marketing solutions by EdgeRock Know-how Associates. They concentration on a very substantial-stop marketplace, and the means to use their resource throughout all of our systems is a substantial chance with a greater margin profile for us. Additionally, like EdgeRock, Momentum Solutionz provides multi-year buyer contracts with a recurring earnings model.”
Jeff Servidio and Lorne Kaufman, Managing Partners of Momentum Solutionz, extra, “We are humbled and thrilled to turn into element of the BGSF household. We believe the synergies and momentum we have developed with EdgeRock over the final handful of decades will keep on into the long run as we are equipped to extend our managed solutions and task-based products and services to the BGSF family members. These companies will permit BGSF to mature their diversification of services when complementing the company’s strengths. We feel we are effectively positioned with the popularity and vision of BGSF, coupled with our course of action and practical experience, to build progress prospects the two in the limited phrase, and for yrs to arrive.”
About Momentum Solutionz
Momentum Solutionz is a company of IT consulting and managed products and services for businesses employing ERP devices. The company’s IT consulting expert services incorporate strategic organizing, software program variety, street mapping, cloud migration and implementation of ERP methods. The company’s IT managed solutions involve optimization and routine maintenance of ERP units. The corporation presents products and services to clients all through the United States in a assortment of industries, such as but not constrained to hospitals, retail, universities and mid-size organizations.
Headquartered in Plano, Texas, BGSF provides workforce solutions to a wide range of industries by its many divisions in IT, Cyber, Finance & Accounting, Inventive, True Estate (condominium communities and professional structures), and Mild Industrial. BGSF has built-in quite a few regional and countrywide manufacturers accomplishing scalable advancement. The Firm was ranked by Staffing Marketplace Analysts as the 70th greatest U.S. staffing company and the 50th biggest IT staffing organization in the 2020 updates. The Company’s disciplined acquisition philosophy, which builds benefit through both equally economic advancement and the retention of exclusive and committed expertise within just BGSF’s family of providers, has resulted in a seasoned administration group with powerful tenure and the capability to offer remarkable assistance to our industry expertise and client companions even though setting up price for traders. For more details on the Organization and its companies, please go to its site at www.bgsf.com.
Forward Looking Statements
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