SOURCE: Staffing 360� Solutions
NEW YORK, NY--(Marketwire - Aug 21, 2012) - Staffing 360 Solutions, Inc. (OTCQB: STAF) (OTCBB: STAF) today announced the launch of Staffing 360 Alliance, a new division engaged in a series of anticipated co-ventures with successful staffing companies. The wholly owned subsidiary will provide a broad array of services for and on behalf of its staffing company co-venture partners. The services include broad spectrum IT services, horizontal and vertical marketing between its staffing partners, business development and business acceleration.
Staffing 360 Alliance will focus its principal activities in the IT, financial, accounting, healthcare and banking industries. The Alliance division will be operated in parallel to the anticipated acquisitions the company will make. Staffing 360 is committed to creating a major international publicly-held staffing organization with diversified staffing services through this targeted accretive acquisition strategy in addition to its co-venture division. The overall high growth staffing market is highly fragmented with an estimated 15,000 companies generating less than $20 million in revenues in the United States alone.
"The launch of this division is a further validation not only of the extraordinary opportunity that exists in the staffing sector but a validation of the strength and experience of the Staffing 360 management team," stated Allan B. Hartley, CEO of Staffing 360 Solutions. "Although no guarantees can be made that we will acquire the companies necessary to meet our targets, we strongly believe that the current macro-economic environment, combined with our highly experienced management team, will allow us to fully execute our aggressive growth plan."
"As we continue our development program of creating a robust pipeline of prospective acquisitions, the Alliance division increases opportunities for revenue and EBITDA contribution while increasing the universe of potential acquisitions," continued Mr. Hartley. "Management at Staffing 360 is committed to building a high growth, large, dominant publicly held franchise by combining many smaller entities in the major U.S. and European markets and the Alliance division will support those activities."
About Staffing 360 Solutions
Staffing 360 Solutions, Inc. (OTCQB: STAF) (OTCBB: STAF) is an emerging public company in the international staffing sector that intends to acquire high growth domestic and European staffing agencies. As part of its highly targeted consolidation model, Staffing 360 Solutions is pursuing broad spectrum staffing companies in the IT, financial, accounting, healthcare and banking industries. The Company believes the staffing industry offers significant opportunity to create a successful public company with a longer term objective of accretive acquisitions that will drive annual revenues to a minimum of $250 million. For more information please visit: www.staffing360solutions.com
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Staffing 360 Solutions expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law. In addition, no assurances can be made that Staffing 360 Solutions will successfully acquire any acquisition targets.