Turn Key Staffing Solutions has been acquired by The Bagg Group
Turn Key Staffing Solutions
has been acquired by
The Bagg Group
Corporate Finance Associates acted as exclusive advisor to Turn Key Staffing Solutions
Situation: Turn Key Staffing Solutions, a multi-branch staffing company headquartered in Newmarket, Ontario, provides qualified personnel on a permanent, temporary, or contract basis throughout Ontario, Canada. Turn Key grew steadily over its nearly 15 year history by providing personalized, customized service to meet the challenging human resource needs of its customers, and established a leading reputation in its markets. After coming through the economic downturn, the company fully recovered and had an excellent growth forecast. The shareholders, who did not hold an active role in the company, realized a new strategic owner would be the best opportunity for achieving the business’ continued growth and would provide the strongest benefits to the company, clients and staff.
Solution: CFA Toronto West was retained in January 2011 to seek out the best strategic buyer for Turn Key After having discussions with 50 prospective buyers and receiving 4 credible offers, Turn Key Staffing Solutions was acquired by The Bagg Group of Toronto, Ontario in November 2011. Founded in 1971, The Bagg Group has grown to become one of Toronto’s most successful full-service staffing and consulting firms. Their acquisiton of Turn Key meets a key strategic requirement in the growth of their operation, and allows a breakthrough into staffing for the light industrial sector in the GTA, Barrie and Newmarket.