NEW YORK, NY--(Marketwired - February 13, 2017) - 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, announced today that Christopher J. Lutzo, former Assistant General Counsel at Smith & Wesson Holding Corporation, has been named Staffing 360 Solutions' new General Counsel.
"Staffing 360 welcomes Chris Lutzo, a highly experienced legal professional and a fantastic addition to our Executive Management Team," stated Brendan Flood, Executive Chairman at Staffing 360 Solutions. "We believe the new position of General Counsel will help us streamline workflow due to our constant need for expertise based on our numerous transactions, with the appointment expected to result in a meaningful reduction in the total expenditures on outside counsel and associated costs. In addition to Chris Lutzo's technical experience in public company reporting and SEC compliance, his emphasis on M&A activity during his career is a perfect complement to our acquisition strategy."
Mr. Lutzo has practiced for over 25 years, with a particular emphasis in the areas of compliance, business operations, financial transactions, mergers & acquisitions, and securities law. Prior to joining Staffing 360 Solutions, from 2015 to 2017, Mr. Lutzo focused on corporate governance and M&A activity at Axiom Global, Inc., a leading provider of tech-enabled legal services with a predominantly Fortune 500 clientele. Prior to that, from 2012 to 2015, Mr. Lutzo was Assistant General Counsel for Smith & Wesson, where he handled M&A transactions and managed integration of business, legal, compliance and regulatory functions, enabling accretive value to be realized from acquisition targets. Mr. Lutzo also prepared and filed SEC filings and annual reports for the Nasdaq-listed company, which recently went through a name change in January 2017 to American Outdoor Brands Corporation.
"I'm thrilled to join the team at Staffing 360 Solutions," said Mr. Lutzo. "As the Company continues to grow through accretive acquisitions, there is an increasing need to take direct control of the growing legal requirements of the company, to improve the speed of response, and to streamline the cost base. Putting my broad skillset to the test, I look forward to enhancing our efficiencies as the Company looks to grow on its current $190 million in revenue and reach new milestones as part of its acquisitions strategy."
Prior to Smith & Wesson, Mr. Lutzo served in various legal roles, including Senior Legal Counsel at Presstek, Inc., where he negotiated, documented and closed various strategic transactions and financings, including a $35 million credit facility to fund future growth. Mr. Lutzo began his career in corporate work and commercial litigation, working his way to Partner at Meister Seelig & Fein LLP in New York, where he managed the firm's technology practice and co-managed the litigation department.
Mr. Lutzo is admitted in the states of New York and Connecticut and received his J.D. from the Quinnipiac University School of Law in Connecticut, and a Bachelor of Arts from Duquesne University in Pittsburgh, Pennsylvania.
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 United States and in the United Kingdom. The Company believes the staffing industry offers opportunities for accretive acquisitions that will drive its annual revenues to $300 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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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 $300 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.
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