BGSF, Inc. Acquires Horn Solutions, Inc.
December 12 2022 - 4:05PM
Business Wire
Acquisition Expands BGSF’s Position as a
Leader in Consulting, Managed Services and Search
BGSF, Inc. (NYSE: BGSF), a leading national provider of
consulting, managed services and workforce solutions, announced
today that it has acquired Horn Solutions, Inc. (“Horn Solutions”
or “Horn”), a recognized, Texas-based workforce solutions firm
specializing in business consulting, managed services, and
executive search.
Horn, with offices in Houston, Dallas and Austin, Texas, is
well-known for understanding business, listening to needs of its
clients and supplying the right professionals, including bench and
contract resources, that deliver results. Horn’s areas of focus
include Strategic Finance & Accounting, Transactional
Accounting & Business Administration, and Information
Technology. Horn also offers support services in consulting, loan
staff for projects, interim and staff augmentation, direct hire and
managed services. Its predecessor was founded in 1987 and re-named
Horn Solutions in 2008. Horn reported unaudited revenues of
approximately $30 million for the trailing twelve months ending
September 2022.
“We are pleased to welcome the entire Horn Solutions team to
BGSF,” said Beth Garvey, BGSF’s Chair, President, and Chief
Executive Officer. “Horn’s people and relationships add depth and
breadth to our existing high-value business consulting and managed
service platforms, allowing us to expand on our existing IT managed
services. In 2023 and beyond, we anticipate cross-selling
opportunities, as well as synergies.”
“Horn Solutions and BGSF are a great fit with shared values and
a commitment to client service and employees. The combination of
these great organizations brings exciting growth opportunities for
both BGSF and the Horn team,” said Gary Horn, Horn Solutions’ prior
CEO.
“The BGSF team has grown its company to a nationwide leader in
strategic workforce solutions and, together, BGSF and Horn will
offer our collective clients with a complementary range of services
and solutions,” stated Scott Patenaude, Senior Vice President of
Horn Solutions.
Norton Rose Fulbright US LLP served as legal counsel for BGSF in
connection with the transaction.
About BGSF
BGSF provides consulting, managed services and workforce
solutions to a variety of industries through its various divisions
in IT, Cyber, Finance & Accounting, and Real Estate (apartment
communities and commercial buildings). BGSF has integrated several
regional and national brands achieving scalable growth. The Company
was ranked by Staffing Industry Analysts as the 94th largest U.S.
staffing company and the 49th largest IT staffing firm in 2022. The
Company’s disciplined acquisition philosophy, which builds value
through both financial growth and the retention of unique and
dedicated talent within BGSF’s family of companies, has resulted in
a seasoned management team with strong tenure and the ability to
offer exceptional service to our field talent and client partners
while building value for investors. For more information on the
Company and its services, please visit its website at
www.bgsf.com.
Forward-Looking Statements
The forward-looking statements in this press release are made
under the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements may
include, but are not limited to, statements regarding our future
financial performance and the expectations and objectives of our
board or management. The Company’s actual results could differ
materially from those indicated by the forward-looking statements
because of various other risks and uncertainties, including those
listed in Item 1A of the Company’s Annual Report on Form 10-K and
in the Company’s other filings and reports with the Securities and
Exchange Commission. All of the risks and uncertainties are beyond
the ability of the Company to control, and in many cases, the
Company cannot predict the risks and uncertainties that could cause
its actual results to differ materially from those indicated by the
forward-looking statements. When used in this press release, the
words “allows,” “believes,” “plans,” “expects,” “estimates,”
“should,” “would,” “may,” “might,” “forward,” “will,” “intends,”
“continue,” “outlook,” “temporarily,” “progressing,” "prospects,"
and “anticipates” and similar expressions as they relate to the
Company or its management are intended to identify forward-looking
statements. Except as required by law, the Company is not obligated
to publicly release any revisions to these forward-looking
statements to reflect the events or circumstances after the date of
this press release or to reflect the occurrence of unanticipated
events.
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version on businesswire.com: https://www.businesswire.com/news/home/20221212005674/en/
Steven Hooser or Sandy Martin Three Part Advisors
ir@bgstaffing.com 214.872.2710 or 214.616.2207
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