Broadens Experienced Companies Supplying and Elevates High-Amount Expert Sourcing
BGSF, Inc. (NYSE: BGSF), a developing national provider of workforce solutions, these days declared it concluded the acquisition of considerably all of the assets of Momentum Solutionz, LLC. The purchase cost is made up of $3.78 million compensated at closing and up to $2.22 million in earnout primarily based on accomplishing specified agreed upon performance targets in the initially two yrs right after closing, subject matter to customary obtain price tag changes. Momentum Solutionz described unaudited revenues of close to $3 million in fiscal yr 2020.
Momentum Solutionz is the 12th acquisition designed by BGSF given that 2009 as aspect of its expansion strategy to increase and grow its portfolio of provider choices and capabilities. The acquisition of this foremost consulting and managed IT options company not only broadens BGSF’s IT alternatives choices across its installed consumer lover base but also generates a niche expansion chance for superior-degree specialist placements.
Momentum Solutionz provides productive IT solutions to shoppers by furnishing modern and adaptable approaches that generate top-degree performance and unrealized value. The organization leverages an marketplace primary ticketing program in purchase to boost the efficiency, speed, routing and resolution of duties and initiatives. Momentum is a recognized innovator that supplies customized IT solutions to meet the demands of complicated small business procedures, which include:
Beth A. Garvey, President and CEO of BGSF, said, “We are thrilled to welcome the Momentum Solutionz group and provider suite as section of our team. We have partnered with their leadership and integrated groups for numerous years selling alternatives through EdgeRock Technologies Companions. They emphasis on a extremely significant-conclude market place, and the capability to use their resource throughout all of our systems is a enormous possibility with a bigger margin profile for us. Furthermore, like EdgeRock, Momentum Solutionz brings multi-calendar year consumer contracts with a recurring earnings product.”
Jeff Servidio and Lorne Kaufman, Running Companions of Momentum Solutionz, extra, “We are humbled and thrilled to come to be section of the BGSF loved ones. We believe the synergies and momentum we have designed with EdgeRock above the previous several years will proceed into the long term as we are in a position to develop our managed products and services and task-based mostly solutions to the BGSF family. These products and services will make it possible for BGSF to grow their diversification of products and services even though complementing the company’s strengths. We believe we are effectively positioned with the reputation and eyesight of BGSF, coupled with our system and knowledge, to make progress opportunities both in the small term, and for yrs to occur.”
About Momentum Solutionz
Momentum Solutionz is a supplier of IT consulting and managed companies for organizations making use of ERP units. The company’s IT consulting services include things like strategic scheduling, software package range, street mapping, cloud migration and implementation of ERP devices. The company’s IT managed expert services involve optimization and routine maintenance of ERP devices. The organization offers companies to consumers all through the United States in a assortment of industries, which includes but not limited to hospitals, retail, universities and mid-dimensions firms.
Headquartered in Plano, Texas, BGSF delivers workforce options to a variety of industries as a result of its several divisions in IT, Cyber, Finance & Accounting, Resourceful, Authentic Estate (condominium communities and professional buildings), and Light-weight Industrial. BGSF has built-in many regional and countrywide models obtaining scalable expansion. The Business was rated by Staffing Sector Analysts as the 70th premier U.S. staffing corporation and the 50th major IT staffing company in the 2020 updates. The Company’s disciplined acquisition philosophy, which builds worth by both of those fiscal advancement and the retention of exceptional and focused talent within just BGSF’s relatives of organizations, has resulted in a seasoned administration team with robust tenure and the ability to offer fantastic provider to our industry expertise and consumer companions when building worth for traders. For more facts on the Organization and its solutions, make sure you take a look at its site at www.bgsf.com.
Forward Looking Statements
The ahead-wanting statements in this press release are made beneath the “protected harbor” provisions of the Non-public Securities Litigation Reform Act of 1995. Forward-looking statements may possibly incorporate, but are not minimal to, statements pertaining to our upcoming economic efficiency and the anticipations and aims of our board or management. The Company’s genuine success could differ materially from those indicated by the forward-on the lookout statements since of a variety of threats and uncertainties which include people listed in Product 1A of the Company’s Yearly Report on Kind 10-K and in the Company’s other filings and reviews with the Securities and Exchange Commission. All of the threats and uncertainties are outside of the ability of the Company to handle, and in quite a few situations, the Enterprise simply cannot forecast the challenges and uncertainties that could cause its genuine final results to differ materially from those people indicated by the ahead-hunting statements. When employed in this push release, the words “will allow,” “thinks,” “strategies,” “expects,” “estimates,” “should,” “would,” “could,” “may well,” “ahead,” “will,” “intends,” “continue,” “outlook,” “quickly,” “progressing,” and “anticipates” and similar expressions as they relate to the Organization or its administration are supposed to recognize forward-on the lookout statements. Besides as necessary by legislation, the Enterprise is not obligated to publicly launch any revisions to these forward-on the lookout statements to replicate the events or situations just after the day of this press launch or to mirror the occurrence of unanticipated occasions.
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Hala Elsherbini or Steven Hooser
3 Element Advisors
[email protected] 214.442.0016