Staffing 360 Solutions Re-signs Largest Client to Multi-year contract
January 22 2019 - 8:00AM
Staffing 360 Solutions, Inc. (NASDAQ: STAF), a company executing an
international buy-integrate-build strategy through the acquisition
of staffing organizations in the United States and the United
Kingdom, today announced that one of its UK businesses, Clement
May, has re-signed British American Tobacco (“BAT”) to provide
Resource Process Outsourcing and staffing services.
Mark Darby, Staffing 360 Solutions’ President of Professional
Staffing (UK) said, “This renewal is validation that our
acquisition of Clement May continues to deliver desired results.
The exceptional service that is provided by the team at Clement May
to BAT has led to this moment, representing the potential delivery
of strong increased revenue.”
Chris Rowbotham, Managing Director of Clement May stated, “We
are proud of the service we provide to BAT and are very pleased
that our consistently high level of service level has been
recognized in this way and we will continue to work with BAT on
areas where we can help to improve its business even further. We
are constantly striving for new ways in which to improve our
overall client offering and now, as part of Staffing 360 Solutions,
we have successfully extended our delivery from Information
Technology contractors to include Engineering, Legal and Accounting
& Finance, through collaboration with our sister-brands.
Staffing 360’s overall targeted acquisition strategy has taken
the company from $41 million in revenue in 2014 to $187 million for
the first nine months of 2018 – and expectations are to be
profitable in the 2019 fiscal year.
About Staffing 360 Solutions, Inc.Staffing 360
Solutions, Inc. is engaged in the execution of an international
buy-integrate-build strategy through the acquisition of domestic
and international staffing organizations in the United States and
United Kingdom. The Company believes that the staffing
industry offers opportunities for accretive acquisitions that will
drive its annual profitable revenues to $500 million. As part
of its targeted consolidation model, the Company is pursuing
acquisition targets in the finance and accounting, administrative,
engineering, IT, and Light Industrial staffing space. For more
information, please visit: www.staffing360solutions.com.
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Forward-Looking StatementsThis press release
contains forward-looking statements, which may be identified by
words such as "expect," "look forward to," "anticipate" "intend,"
"plan," "believe," "seek," "estimate," "will," "project" or words
of similar meaning. Although Staffing 360 Solutions, Inc.
believes such forward-looking statements are based on reasonable
assumptions, it can give no assurance that its expectations will be
attained. Actual results may vary materially from those
expressed or implied by the statements herein, including the goal
of achieving annualized profitable revenues of $500 million, due to
the Company’s ability to successfully raise sufficient capital on
reasonable terms or at all, to consummate additional acquisitions,
to successfully integrate newly acquired companies, to organically
grow its business, to successfully defend potential future
litigation, changes in local or national economic conditions, the
ability to comply with contractual covenants, including in respect
of its debt, as well as various additional risks, many of which are
now unknown and generally out of the Company’s control, and which
are detailed from time to time in reports filed by the Company with
the SEC, including quarterly reports on Form 10-Q, reports on Form
8-K and annual reports on Form 10-K. Staffing 360 Solutions
does not undertake any duty to update any statements contained
herein (including any forward-looking statements), except as
required by law.
Investor Relations Contact: Harvey Bibicoff,
CEO Bibicoff + MacInnis, Inc. 818.379.8500
harvey@bibimac.com
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