ATLANTA, GA--(Marketwired - Jul 12, 2016) - The Staffing Group, Ltd. (OTC PINK: TSGL) (the "Company"), an emerging public company specializing in leveraged buyout transactions and restructurings with a focus on verticals within the 115 billion dollar U.S. staffing industry, is pleased to pre-announce that 2nd Quarter 2016 revenues are expected to exceed the Company's forecast of $1.5 million.
During the quarter the Company successfully executed its first acquisition since a change in leadership at the end of 2015. Milestones in the 2nd Quarter 2016 include successful integration with The Staffing Group's software and launch of the Company's CRM platform to the acquired businesses.
The Company has a growing pipeline of acquisition targets and expects to announce its 2nd acquisition during the 3rd quarter 2016.
Kimberly Thompson, CEO of The Staffing Group, Ltd., commented, "We are off to a great start toward our goal of reaching $75 million in annual revenues within the next 3 years. After completing a complex software changeover, we are now focused on executing our next acquisition."
About The Staffing Group, Ltd.
The Staffing Group, Ltd. is executing an aggressive buy-and-build strategy through the acquisition and integration of small to medium sized staffing businesses with focus on the light industrial, engineering, manufacturing and construction staffing space. The Company believes the light industrial staffing segment is ripe for consolidation and will seek accretive acquisitions that will drive annual revenues to $75 million within the next 3 years.
Safe Harbor Statement
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of The Staffing Group, Ltd.., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may", "would", "will", "expect", "estimate", "can", "believe", "potential", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond The Staffing Group, Ltd.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in The Staffing Group, Ltd.'s filings with the U.S. Securities and Exchange Commission.