NEW YORK, Nov. 05, 2018 (GLOBE NEWSWIRE) — Staffing 360 Solutions, Inc. (NASDAQ: STAF), a company executing an international buy-and-build strategy through the acquisition of staffing organizations in the United States and the United Kingdom, today announced it has engaged Bibicoff + MacInnis, Inc. as Investor Relations Advisors.
Brendan Flood, Chairman and Chief Executive Officer, said, “We believe the Company is well positioned for continued growth and to penetrate targeted new opportunities. We have engaged Bibicoff + MacInnis at this time because we believe they are the right team to effectively communicate our progress and raise visibility within the investment community, ultimately supporting enhanced shareholder value. Their proactive strategic investor relations program will include regular outreach to targeted potential new investors, as well as to our existing shareholder base.”
Harvey Bibicoff, CEO of Bibicoff + MacInnis stated, “As STAF continues to build upon its buy-integrate-build strategy, we look forward to helping raise market awareness for the Company and what we believe is its undervalued stock. STAF is advancing its goal to profitably grow its business, both organically and through acquisitions, with the intention to become a profitable $500 million revenue company before the end of 2019.”
The Company has grown revenue from $128.8 million in 2015 to $192.7 million in 2017. The last two 2018 acquisitions have added $85 million in annual revenue.
Bibicoff continued, “With 1) strong revenue growth, 2) a pipeline of quality acquisition targets, and 3) a current market cap of approximately $8 million, STAF is a company that certainly should, at the very least, be watched closely.”
The Company’s broad-based services principally consist of providing temporary contractors and the recruitment of candidates for permanent placement. It currently provides services in two verticals – the Professional segment (accounting & finance, IT, engineering and administration) and the Commercial segment – (light industrial).
About Staffing 360 Solutions, Inc.
Staffing 360 Solutions, Inc. is engaged in the execution of an international buy-and-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 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. Follow Staffing 360 Solutions on Facebook, LinkedIn and Twitter.
This 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 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.