NEW YORK, July 09, 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 in the United Kingdom, today announced its entry into the Resource Process Outsourcing market with the acquisition of Clement May Limited. Based in London, Clement May is a growing, leading provider of IT recruitment services.
For the trailing twelve months ended June 2018, Clement May generated revenues of approximately $50 million and operated profitably.
“The acquisition of Clement May reflects our continuing focus on strategic M&A activity that, in concert with an intelligent integration program, is designed to drive top line growth towards our stated revenue goal of $500 million over the next two years and bring us one step closer to generating positive net income,” said Brendan Flood, Chairman and Chief Executive Officer of Staffing 360 Solutions.
Mr. Flood continued, “While our operations in the US have the ability to deliver on volume projects, we were limited in the UK in this regard. This acquisition allows us to deliver additional quality and service to our client base, strengthens our position in the IT staffing market and allows for more international cross-selling within the group.”
“The acquisition of Clement May enhances our capabilities in the UK in a strategic and complementary fashion to our existing businesses of CBS Butler, The JM Group, and Longbridge Recruitment 360,” stated Mark Darby, President of Professional Staffing (UK) of Staffing 360 Solutions. “Clement May boasts a very strong management team led by Chris Rowbotham, who will help to further the growth and development of that brand.”
Chris Rowbotham, Managing Director of Clement May, has been appointed to the combined role of Managing Director of Clement May and Longbridge Recruitment 360, a subsidiary of Staffing360 Solutions specializing in the areas of finance & accounting, and legal recruitment.
Mr. Rowbotham added, “We are very excited about the possibilities that joining the Staffing 360 Solutions family opens for us and for our clients. I look forward to working more closely with my new colleagues in Longbridge Recruitment 360 and to driving both of these brands forward.”
Staffing 360 Solutions was represented in the transaction by the corporate team of Mishcon de Reya, led by Nick Davis as Partner.
Staffing 360 Solutions will provide additional details to investors regarding these transformative events through forthcoming SEC filings and press releases. More information about Staffing 360 Solutions, including investor materials, presentations, white papers, and webcasts, can be found at: www.staffing360solutions.com/res.html.
About Staffing 360 Solutions, Inc.
Staffing 360 Solutions, Inc. (Nasdaq:STAF) is a public company in the staffing sector 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.
