Business
HireQuest, Inc. Announces Acquisition of The Dubin Group, Inc. and Dubin Workforce Solutions, Inc.
HireQuest to Acquire Commercial Staffing and Executive Placement Providers in PhiladelphiaGOOSE CREEK, SC / ACCESSWIRE / January 19, 2022 / HireQuest, Inc.
About this update from Hirequest, Inc.
[{"type":"text","content":"HireQuest to Acquire Commercial Staffing and Executive Placement Providers in PhiladelphiaGOOSE CREEK, SC / ACCESSWIRE / January 19, 2022 / HireQuest, 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 operational assets of The Dubin Group, Inc. and Dubin Workforce Solutions, Inc., related founder-owned businesses in Philadelphia, Pennsylvania that provide executive placement services and commercial staffing, respectively.\"This acquisition not only expands our HireQuest Direct and Snelling offerings in the Northeast, but it also provides us a toehold into higher margin executive placement services in the region,\" commented Rick Hermanns, HireQuest's President and Chief Executive Officer, \"\"We are delighted that Kenny Dubin, the founder of these companies, has agreed to stay on to help further develop these offerings.\"At the close of the transaction, the businesses will be converted to HireQuest's franchise model. HireQuest will fund this acquisition with existing cash on hand and, if necessary, 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, both The Dubin Group and Dubin Workforce Solutions will remain open for business without interruption.About HireQuest HireQuest, 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 more than 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.Important Cautions Regarding Forward-Looking StatementsThis news release includes, and the company's officers and other representatives may sometimes make or provide c...