ATLANTA, GA--(Marketwired - Feb 10, 2017) - 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, today announced its plans for 2017.
The Company is aggressively seeking acquisitions throughout the Southeast U.S. The goal for 2017 is to complete revenue acquisitions totaling $7 million on an annualized basis.
While the Company expects to remain acquisition centric, it has also identified opportunities for organic expansion. The Company seeks to establish four additional locations throughout the states below, beginning with Birmingham, where we expect to officially launch operations and service the first client before the end of the first quarter of 2017.
- North Carolina
The Company anticipates the opening of one new location per quarter in 2017. These additional locations will nearly double the Company's presence in the staffing marketplace.
Kim Thompson, the Company's Chief Executive Officer, stated, "My team has worked very hard refining our processes, how we go to market, and our customer service strategy. Our expansion plans for 2017 will leverage our already existing platform and position us for the next stage of growth."
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.