STAF - Staffing 360 Solutions to buy Headway Workforce for $14M
Staffing 360 Solutions (NASDAQ:STAF) to acquire Headway Workforce Solutions for up to ~$14M in a combination of stock and cash. Headway Workforce is a company executing an international buy-integrate-build strategy through the acquisition of staffing organizations in the US and the UK; company reported unaudited revenues of $85M in 2021. Upon closing, $9M will be paid through issuance of shares of preferred stock that are convertible into ~3.5M common shares, and up to $5M cash through an earn-out. CEO and Chairman, Brendan Flood commented, ''Our industry is seeing a growing demand for labor, and the combined solutions of our two companies will bring a valuable dynamic to the business. The proven e-recruiting technologies Headway designed not only can improve customer reach and satisfaction, but also enhance operating margins.''
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Staffing 360 Solutions to buy Headway Workforce for $14M