Headwaters MB advised Staffing 360 Solutions, Inc. (OTCQB: STAF), a leading international publicly-held staffing organization, on a $40 million senior secured note financing, the proceeds of which were used to recapitalize the company's balance sheet, fund a portion of two acquisitions, and support working capital.  

Staffing 360 Solutions is executing an international buy-and-build strategy through the acquisition of staffing organizations in the United States and in the United Kingdom and pursuing acquisition targets in the finance and accounting, administrative, engineering and IT industries. 

In line with management’s emphasis on improving the financial health of the company and reinvigorating its highly focused M&A program, Headwaters helped negotiate a $40 million senior note with a three-year term and a bullet maturity. 

“These developments are a game-changer for our company, vaulting us much closer to our goal of becoming a $300 million annualized revenue business,” said Brendan Flood, Executive Chairman of Staffing 360 Solutions. “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.” 

 

About 360 Staffing Solutions

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 in the United Kingdom. The company believes that the staffing industry offers opportunities for accretive acquisitions that will drive its annual revenues to $300 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.