Staffing 360 Solutions Executive Chairman Brendan Flood Updated M&A Plans at 2017 Executive Forum Europe
October 10 2017 - 11:16AM
Staffing 360 Solutions, Inc. (Nasdaq:STAF), a public company
executing a global buy-and-build strategy through the acquisition
of staffing organizations in the United States and in the United
Kingdom, today announced that Executive Chairman Brendan Flood
provided an update on its M&A Program when he appeared as a
featured panelist at the 4th Annual Executive Forum Europe in
London on Monday, Oct. 9.
Mr. Flood reaffirmed the Company’s target of
growing to $500 million in annualized revenue and placed a target
timeline of two years on the plan. Additionally, he outlined that
the early indications on the two recent acquisitions – CBSbutler in
the UK and firstPRO Georgia in the US – are all positive and
confirmed that these two acquisitions will more than double the
profitability of Staffing 360 Solutions. He further stated that the
refinancing of the Balance Sheet allows operating cash flow to be
invested in strong organic growth and that the management team are
currently developing plans for these investments into 2018.
Hosted by Staffing Industry Analysts (SIA), the
Forum is a premier event for European business leaders, attracting
top executives, management and expertise across the staffing
industry. Flood participated in the “Dare to Grow” panel session
alongside other staffing industry leaders in front of a large
attendance of staffing specialists from over 17 countries around
the world.
Staffing360 was asked to participate in this year’s
Forum following the Company’s transformative execution of $40
million in refinancing and simultaneous acquisition of staffing
organizations firstPRO Georgia in the United States and CBSbutler
in the United Kingdom. These recent developments represent a sea
change for the Company by greatly improving its overall financial
strength and reinvigorating its highly focused M&A program.
Executive Forum Europe 2017 is being held over
09-10 October at The Grange St Paul's in London. For the full
conference agenda, overview of speakers and registration, please
visit www.siexecutiveforum.eu | @ExecForum.
About Staffing 360 Solutions, Inc.
Staffing 360 Solutions, Inc. (NASDAQ:STAF) is a public company
in the staffing sector engaged in the execution of a global
buy-and-build strategy through the acquisition of domestic and
international staffing organizations in the US and UK. The Company
believes the staffing industry offers opportunities for accretive
acquisitions that will drive its annual revenues to $500 million.
As part of its targeted consolidation model, the Company is
pursuing acquisition targets in the finance and accounting,
administrative, engineering and IT staffing space. For more
information, please visit: www.staffing360solutions.com.
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Forward-Looking Statements
Certain matters discussed within this press release are
forward-looking statements including, but not limited to the timing
and ability to enter into any additional acquisitions and expand
our business, as well as the size of future revenue or trading
volume or future access to capital markets. Although Staffing 360
Solutions, Inc. believes the expectations reflected in such
forward-looking statements are based on reasonable assumptions, it
can give no assurance that its expectations will be attained.
Specifically, in order for the Company to achieve annualized
revenues of $500 million, the Company will need to successfully
raise sufficient capital, to consummate additional target
acquisitions, successfully integrate any newly acquired companies,
organically grow its business, successfully defend any potential
future litigation, as well as various additional contingencies,
many of which are unknown at this time and generally out of the
Company's control. The Company can give no assurance that it will
be able to achieve these objectives. Staffing 360 Solutions does
not undertake any duty to update any statements contained herein
(including any forward-looking statements), except as required by
law. Factors that could cause actual results to differ materially
from expectations include general industry considerations,
regulatory changes, changes in local or national economic
conditions, our ability to access the capital markets on terms
acceptable to us, or at all, our ability to comply with our
contractual covenants, including in respect of our debt and other
risks detailed from time to time in Staffing 360 Solutions' reports
filed with the SEC, including quarterly reports on Form 10-Q,
reports on Form 8-K and annual reports on Form 10-K.
Corporate Investor Contact:
Staffing 360 Solutions, Inc.Brendan Flood, Executive
Chairman+1.646.507.5715 brendan.flood@staffing360solutions.com
Financial Contact:
Staffing 360 Solutions, Inc.David Faiman, Chief
Financial Officer+1.646.507.5711info@staffing360solutions.com
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