De Bellas & Co. Serves as Financial Advisor to Hospitality Staffing Solutions, LLC in its acquisition of FoodStaff.
March 7, 2019- Irvine, CA – De Bellas & Co., Investment Banking, (“De Bellas”) is pleased to announce another successful transaction in the staffing and workforce solutions industry. De Bellas served as the financial advisor to Hospitality Staffing Solutions, LLC (“HSS”) in its acquisition of South Carolina based FoodStaff. This transaction further demonstrates De Bellas’ position as the industry leader in providing M&A advisory services to the staffing and workforce solutions industry exclusively, with over 225 completed transactions in the space.
“The first quarter of 2019 continues to show positive signs of strength in the US economy. Companies are continuing to invest in growth via acquisitions. M&A activity in the staffing and workforce solutions industry remains very strong to start the year, and we see no reason to believe there will be a slowdown anytime in the immediate future,” said Akash Taneja, De Bellas & Co. – Managing Director. “We just got back from the Staffing Industry Analysts Executive Forum in Austin where we had the chance to speak with a number of staffing company executives looking to make acquisitions as part of their growth strategy in 2019. The overwhelming sentiment of the outlook for 2019 was positive from the staffing executives we spoke with. It was very encouraging.”
Founded in 1988 by CEO Bailey Bolen, FoodStaff provides temporary and full-time personnel to key sectors within the hospitality industry, specializing in serving the food and beverage staffing needs of its clients with a strong presence in the Educational, Corporate Dining and Banquet/Event Staffing sectors. FoodStaff is headquartered in Charleston, SC and operates seven offices in the Southeast and Mid-Atlantic regions of the United States. FoodStaff will operate as a wholly owned subsidiary of HSS and its brand name will remain intact.
The acquisition of FoodStaff by HSS will support its clients across the United States, utilizing HSS’s wide branch network of more than 70 markets and applicant database to further the combined company’s support of its key business partners. FoodStaff’s clients include Compass Group, Sodexo USA, Sage Dining, and Marriott International. Mr. Bolen will remain with the company through a transition period in 2019 and all FoodStaff’s current internal and temporary employees will be retained by HSS.
Tim McPherson, CEO of HSS, said, “FoodStaff is a perfect fit for our growing organization. Over the past 30 years, Bailey has created a trusted partner to the hospitality industry, providing quality personnel to many of the industry’s leading companies. The addition of FoodStaff will further the strategic growth of our company as we offer new and existing clients trained staff in the food and beverage sector. This acquisition is another significant investment to strengthen HSS as a key partner to its customers and we are actively targeting additional add-on investments that will further extend our ability to deliver a breadth of talented staff.”
“I was searching for a partner who shares the same philosophies towards excellence in service, training, and professionalism. I have found that partner in HSS and we are excited to help accelerate HSS’s strategic growth with additional service offerings to its core hotel and resort clientele, as well as helping them move deeper into new niche sectors on a national level, including colleges, schools, universities, hospitals, senior living facilities and corporate dining,” said Mr. Bolen.
About Hospitality Staffing Solutions, LLC
Hospitality Staffing Solutions, LLC is the nation’s leading supplier of talent to the Hotel and Resort industry, with operations in 34 states and Puerto Rico supporting more than 800 properties on a weekly basis. On any given day, more than 10,000 dedicated HSS staff members provide services to its esteemed client base, with skill sets ranging from Housekeeping, Janitorial, Kitchen, Food and Beverage, and many more. HSS also provides outsourced service operations, managing the entire operations of specific hotel functions, ensuring clients receive quality of service, personnel and predictable costs. HSS is the only hospitality staffing firm recognized as one of the USA’s Top 100 firms in the industry, as measured by Staffing Industry Analysts.
Founded in 1990 in Atlanta, HSS proudly claims a leading market share at the world’s leading hotel brands and management companies and looks to continue its expansion into new geographies through organic expansion of its branch office network, strategic acquisition, and further development of its service capabilities. Learn more about Hospitality Staffing Solutions at www.hssstaffing.com.
About De Bellas & Co.
De Bellas & Co, is the leading investment banking firm in merger and acquisition advisory services, exclusively for the staffing and workforce solutions industry, bringing over 30 years’ experience and over 230 transactions in this specialty. De Bellas & Co.’s success is driven by a commitment to serving as a strategic and financial advisor, to meet the long-term needs of its clients. Please visit debellas.com for more information.
Securities and investment banking services offered through Independent Investment Bankers Corp. a broker-dealer, Member FINRA/SIPC. De Bellas & Co., LLC is not affiliated with Independent Investment Bankers Corp. www.iibcorp.com www.finra.org www.sipc.org