HireQuest to acquire TEC Staffing Services, terms not disclosed

HireQuest has entered into a definitive agreement to acquire TEC Staffing Services, headquartered in Fort Smith, Arkansas. TEC’s ten offices throughout Northwest and Central Arkansas provide light industrial, clerical, technical, and professional staffing services, and generated over $34 million in total revenue for the trailing 12-month period ended September 30, 2023. The offices will be converted to the Snelling franchise model.The Company believes its current operating infrastructure can support the addition of TEC’s offices to the Snelling network without the need for incremental corporate headcount. The transaction is expected to close in the fourth quarter subject to closing conditions. During the interim, all of TEC’s offices will remain open for business without interruption.