Business
HireQuest, Inc. Announces Acquisition of a Division of Dental Power
HireQuest Acquires Leading Dental Staffing Operations; Expands Skilled Staffing Offerings into the Dental Industry GOOSE CREEK, S.C.--(BUSINESS WIRE)--
About this update from Hirequest, Inc.
[{"type":"text","content":"\nHireQuest Acquires Leading Dental Staffing Operations; Expands Skilled Staffing Offerings into the Dental Industry\n\n GOOSE CREEK, S.C.--(BUSINESS WIRE)--\nHireQuest, Inc. (Nasdaq: HQI), a national franchisor of on-demand, temporary, and commercial staffing services, today announced that it has entered into a definitive agreement to acquire the Dental Power Staffing (“DPS”) division of Dental Power (www.dentalpower.com), a 46-year-old dental staffing company headquartered in Carrboro, North Carolina. Dental Power’s DPS division is a leading provider of temporary, long-term contract, and direct-hire staffing services to private sector dental practices across the United States. The division generated $3.5 million in revenue for the last twelve months ended September 30, 2021.\n\n“We are excited to welcome the Dental Power Staffing team to HireQuest,” commented Rick Hermanns, HireQuest’s President and Chief Executive Officer. “Dental Power is an industry pioneer with long-standing client relationships and an outstanding reputation in the dental industry. As part of the HireQuest family we believe there are substantial opportunities to further build on what Dental Power has achieved so far.”\n\n“The acquisition of Dental Power squarely fits within the parameters of our growth strategy. This acquisition provides us with a new platform from which to grow while maintaining our margin targets and not taking certain jurisdictional risks. Additionally, we believe that adding Dental Power Staffing will create further recruiting efficiencies and synergies within HireQuest that will benefit our entire system.”\n\nJamie Understein, President of Dental Power, added, “I’m excited for the next chapter of Dental Power Staffing. This combination with HireQuest brings resources and experience that will help expedite growth and expansion across the United States. I am also so delighted to be passing along the Dental Power flagship services, started by my mother in 1975, to another successful family founded company.”\n\nDental Power Staffing will operate as a corporate owned subsidiary of HireQuest with its existing team, and Jamie Understein will continue as a consultant to HireQuest. HireQuest remains committed to its franchise model and is developing a franchise offering tailored to the dental market which it expects to introduce in the first h...