BGSF, Inc. Announces Strategic Acquisition Providing Nearshore and Offshore IT Consulting
24 Abril 2023 - 4:00PM
Business Wire
BGSF, Inc. (NYSE: BGSF) (“BGSF”), a growing provider of
consulting, managed services and professional workforce solutions,
today announced that it has completed the acquisition of
substantially all of the assets of Arroyo Consulting LLC, (“Arroyo”
or “Arroyo Consulting”).
Arroyo Consulting is a nearshore/offshore professional workforce
solutions firm that specializes in IT and software development with
operations in the US, Colombia and India. Arroyo reported unaudited
revenues of approximately $16.2 million in fiscal year 2022.
“We are excited to add this strategic platform to BGSF, which
allows us to offer software development and IT consulting services
and solutions using resources located outside of the U.S.,” said
Beth Garvey, BGSF’s Chair, President, and Chief Executive Officer.
“Our customers have been asking for offshore and nearshore
solutions, and we know that the Arroyo team will provide us with
the people and expertise needed to expand our high-value business
consulting and managed service platforms.”
The acquisition of Arroyo:
- Adds global delivery capabilities, enhancing our systems and
custom software application development, testing, and ongoing
support for customers, ensuring they have the right people in the
right place at the right time;
- Expands BGSF’s presence into Latin America and India, adding
nearshore and offshore software development locations in Medellin,
Colombia and Telangana, India;
- Expands our recruitment and retention of IT talent, adding more
than 300 skilled professionals; and
- Brings strategic pricing flexibility to enhance our customer
relationships across several industries.
Luis F. Sanchez, General Manager of Arroyo Consulting,
commented, “Arroyo and BGSF are identical in our commitment to our
employees and our clients. We have a scalable model that is
addressing the growing demand for nearshore and offshore resources.
Combining the USA market presence of BGSF, with the global
technical footprint of Arroyo, creates a powerful team in the IT
consulting industry. I know that together we will be stronger and
that the great culture that we have built at Arroyo will be made
even stronger through this acquisition.”
About BGSF
BGSF provides consulting, managed services and professional
workforce solutions to a variety of industries through its various
divisions in IT, Cyber, Finance & Accounting, and Real Estate
(apartment communities and commercial buildings). BGSF has
integrated several regional and national brands achieving scalable
growth. The Company was ranked by Staffing Industry Analysts as the
94th largest U.S. staffing company and the 49th largest IT staffing
firm in 2022. The Company’s disciplined acquisition philosophy,
which builds value through both financial growth and the retention
of unique and dedicated talent within BGSF’s family of companies,
has resulted in a seasoned management team with strong tenure and
the ability to offer exceptional service to our field talent and
client partners while building value for investors. For more
information on the Company and its services, please visit its
website at www.bgsf.com.
Forward-Looking Statements
The forward-looking statements in this press release are made
under the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements may
include, but are not limited to, statements regarding our future
financial performance and the expectations and objectives of our
board or management. The Company’s actual results could differ
materially from those indicated by the forward-looking statements
because of various other risks and uncertainties, including those
listed in Item 1A of the Company’s Annual Report on Form 10-K and
in the Company’s other filings and reports with the Securities and
Exchange Commission. All of the risks and uncertainties are beyond
the ability of the Company to control, and in many cases, the
Company cannot predict the risks and uncertainties that could cause
its actual results to differ materially from those indicated by the
forward-looking statements. When used in this press release, the
words “allows,” “believes,” “plans,” “expects,” “estimates,”
“should,” “would,” “may,” “might,” “forward,” “will,” “intends,”
“continue,” “outlook,” “temporarily,” “progressing,” "prospects,"
and “anticipates” and similar expressions as they relate to the
Company or its management are intended to identify forward-looking
statements. Except as required by law, the Company is not obligated
to publicly release any revisions to these forward-looking
statements to reflect the events or circumstances after the date of
this press release or to reflect the occurrence of unanticipated
events.
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version on businesswire.com: https://www.businesswire.com/news/home/20230424005856/en/
Steven Hooser or Sandy Martin Three Part Advisors
ir@bgstaffing.com 214.872.2710 or 214.616.2207
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