The Staffing Group to Acquire North Dakota Industrial Staffing
Firm
Company Plans Industry Roll-up
Atlanta, GA, United States, via NZINET CORP., 02/11/2016 - - The
Staffing Group, Ltd. (OTC
PINK: TSGL) (the "Company"), today announced it plans to
acquire a North Dakota industrial staffing firm.
With three locations operating in North Dakota, the acquisition
target provides skilled personnel to various industries including
trucking, manufacturing, construction, and the oil and gas industry
in the Bakken Shale Region.
The proposed transaction is expected to add as much as $6
million in revenue to the Company in 2016 and in excess of $8.5
million in 2017. Definitive terms are being finalized and the
Company expects to close on the acquisition upon a successful
completion of its equity raise. On February 4, 2016, the Company
filed a Form D with the U.S. Securities and Exchange Commission,
stating its intention to raise $5 million in a non-brokered private
placement.
After divesting underperforming assets and a swift clean-up of
its balance sheet at the end of 2015, the Company is now focused on
executing an aggressive buy-and-build strategy through the
acquisition and integration of small to medium sized staffing
businesses with focus on the light industrial, engineering,
manufacturing and construction staffing space. The Company believes
the light industrial staffing segment is ripe for consolidation and
will seek accretive acquisitions that will drive annual revenues to
$75 million within the next 36 months.
Safe Harbor Statement
This release contains statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These statements appear in a number of places
in this release and include all statements that are not statements
of historical fact regarding the intent, belief or current
expectations of The Staffing Group, Ltd.., its directors or its
officers with respect to, among other things: (i) financing plans;
(ii) trends affecting its financial condition or results of
operations; (iii) growth strategy and operating strategy. The words
"may", "would", "will", "expect", "estimate", "can", "believe",
"potential", and similar expressions and variations thereof are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond The Staffing Group, Ltd.'s
ability to control, and that actual results may differ materially
from those projected in the forward-looking statements as a result
of various factors. More information about the potential factors
that could affect the business and financial results is and will be
included in The Staffing Group, Ltd.'s filings with the U.S.
Securities and Exchange Commission.
Contact Information
Contact Information
The Staffing Group, Ltd.
Kim Thompson
678-881-0834
kthompson@staffinggroupltd.com