Business
HireQuest, Inc. Announces Acquisition of dmDickason’s Staffing Division
HireQuest to Acquire 3 Commercial Staffing Locations in West Texas and New Mexico GOOSE CREEK, S.C.--(BUSINESS WIRE)-- HireQuest, Inc. (Nasdaq: HQI), a
About this update from Hirequest, Inc.
[{"type":"text","content":"\nHireQuest to Acquire 3 Commercial Staffing Locations in West Texas and New Mexico\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 staffing division of dmDickason Personnel Services, a family-owned company based in El Paso, Texas. The staffing division has three offices, two in El Paso, Texas, and one in Las Cruces, New Mexico, which generated approximately $18 million in revenue in 2021.\n\n\"This acquisition expands our Snelling footprint in west Texas and New Mexico,” commented Rick Hermanns, HireQuest’s President and Chief Executive Officer. “dmDickason started in 1965 as one of the earliest Snelling franchises and for over 40 years Don and Martha Dickason have been providing exceptional service to businesses and job candidates in the greater El Paso area. It’s great to be able to acquire a business with such a long history and we’re excited to bring the Snelling name back to region.”\n\nThe three offices will be converted into Snelling franchise locations at the close of the transaction. HireQuest will fund this acquisition with existing cash on hand and a modest draw on its line of credit. Completion of this transaction is subject to a number of closing conditions. Subject to such conditions, the transaction is expected to close in the first quarter of 2022. During the interim, the staffing division of dmDickason will remain open for business without interruption.\n\nAbout HireQuest\n\nHireQuest, Inc. is a nationwide franchisor that provides on-demand labor and commercial staffing solutions in the light industrial, blue-collar, and commercial segments of the staffing industry for HireQuest Direct, HireQuest, Snelling, and Link franchised offices across the United States. Through its national network of over 210 franchisee-owned offices in more than 35 states and the District of Columbia, HireQuest provides employment for approximately 60,000 individuals annually that work for thousands of customers in numerous industries including construction, light industrial, manufacturing, hospitality, clerical, medical, dental, travel, and event services. For more information, visit www.hirequest.com.\n\nImportant Cautions Regarding Forward-Looking Sta...