Staffing 360 Solutions' investor update conference call

Staffing 360 Solutions’ (STAF) Special Investor update conference call (Transcript) Staffing 360 Solutions (NASDAQ:STAF)

After the much-anticipated acquisition of CBSbutler last month; the Staffing 360 Solutions Executives held a conference call for all their special investors. The call outlined the company’s future plans where Chairman Brendan Flood reaffirmed that with the two significant acquisitions of CBSbutler and First Pro, they could increase their annualised revenues from $177 million to $265 million.

Brendan Flood stated in the deal announcement,

These developments are a game-changer for our company, vaulting us much closer to our goal of becoming a $300 million annualized revenue business. While our team has been working diligently behind the scenes to make these complex transactions a reality, we understand our investors have been very patient as we have executed a multi-year strategy of driving operational improvements and financial governance. We believe this refinancing of our balance sheet and simultaneous closing of two acquisitions will help us unlock significant value, especially as we leverage our projected positive operating cash flow from these transactions to drive additional organic and acquisitive growth”

CBSbutler are now part of a bigger family whose goals are to execute an ‘international buy-and-build strategy’ building a strong selection of companies that will enable them to hit target growth of $500 million in a 2-year annualised review. The significant acquisition of CBSbutler, has enabled Staffing 360 Solutions to follow their business goals and focus on increasing its IT staffing footprint in the US and UK. Staffing 360 also highlighted the positive response received by all its shareholders, who helped drive the stock up in anticipation of the integration.

Matt Briand, Chief Executive Officer, was also excited about adding CBSbutler to their portfolio of companies within the Staffing 360 family.

“As you just heard we are very excited to add CBSbutler and firstPRO to the Staffing 360 family. Each of these organizations specialize in the placement of professional services candidates come with a strong management team and have decades of success within the recruitment industry. 

Let me start with CBSbutler, a $65 million Staffing firm located in Redhill just a few miles outside of London. CBSbutler has over 50 years in recruitment specialising in Engineering, Technical and Information Technology, contract and permanent placement. The average tenure of their Senior Management Team is over 12 years. CBSbutler has been widely recognised for exceptional delivery service, winning best Engineering Recruitment Firm for five of the last 10 years in the UK Recruiter Awards for Excellence."

Everyone here at CBSbutler is extremely positive about the future.