Leading workforce solutions provider BG Staffing completed its acquisition of all of the assets of the IT firm, Momentum Solutionz.
Consideration
Under the deal, BGSF’s purchase price consists of $3.78 million paid at closing and up to $2.22 million in earnout based on achieving certain performance targets in the first two years following closing, subject to customary purchase price adjustments.
Momentum Solutionz Offerings
Momentum Solutionz delivers customized IT solutions to clients according to their needs through innovative and flexible approaches. The firm provides several services including:
- Cloud Services
- Enterprise Professional Services
- Enterprise Resource Planning
- Enterprise Performance Management
- Solution Center
Momentum Solutionz serves clients across the US which includes hospitals, retail, universities, and mid-size businesses. The consulting and managed services provider posted unaudited revenues of $3 million in the fiscal year 2020.
BGSF’s Strategy
The Plano, Texas-based BGSF has been buying companies as part of its growth strategy to expand and improve its product portfolio. The purchase of Momentum Solutionz is the 12th acquisition for BGSF since 2009. In addition to widening BGSF’s IT solution offering across the target market, the acquisition of Momentum Solutionz will create a niche growth chance for high-level consultant placements.
President and CEO of BGSF, Beth A.Garvey, said, “We are excited to welcome the Momentum Solutionz group and service suite as part of our team. We have partnered with their leadership and integrated teams for many years selling solutions through EdgeRock Technology Partners. They focus on a very high-end market, and the ability to use their tool across all of our technologies is a huge opportunity with a higher margin profile for us. Additionally, like EdgeRock, Momentum Solutionz brings multi-year customer contracts with a recurring revenue model.”
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