Lutz M&A advises Labor Source on its recapitalization by Great Range Capital
BRAD LEHL, MERGERS & ACQUISITIONS MANAGER
Lutz M&A recently announced that it served as the exclusive financial advisor to Labor Source, LLC (“Labor Source” or the “Company”) in connection with its recent recapitalization that was led by Great Range Capital. Based in Olathe, Kansas, Labor Source is a rapidly growing temporary staffing company serving restoration, construction, manufacturing, and light industrial services clients. Great Range Capital is a private equity firm based in greater Kansas City, focused on middle market companies in the Midwest in the following industries: business services, healthcare, retail, media, and niche manufacturing. The transaction closed in September 2017.
Labor Source was founded in 1999 by Brandon Sutherland. Through its two brands (One Source Staffing and Labor / CATSTAFF), Labor Source recruits, trains, and manages thousands of general labor and semi-skilled workers throughout the United States. Over the years, the Company has established a particular niche serving restoration and disaster recovery projects related to fire, water, wind, and storm damage. Post-transaction, Mr. Sutherland will retain significant equity ownership in Labor Source, while serving as a key member of the senior management team. Mike Pitman, formerly of Allegis Group, has joined the Company to become its new CEO.
Mr. Sutherland commented, “We are thrilled to be joining forces with Great Range Capital, as we have so many shared values. As we combine their knowledge and capital with our skills and customer relationships, we are excited about the growth opportunities ahead.” On working with Lutz M&A, Mr. Sutherland stated, “Lutz represented us with professionalism, confidentiality, and persistence. We sincerely appreciate their efforts in helping us find the right partner in Great Range Capital.”
Commenting for Lutz M&A, Brad Lehl added, “Lutz was proud to represent Labor Source in its recapitalization by Great Range. We believe the new partnership makes the company exceptionally well-positioned to flourish in the years ahead.”
ABOUT THE AUTHOR
BRAD LEHL + MERGERS & ACQUISITIONS MANAGER
Brad Lehl is a Merger & Acquisitions Manager at Lutz with over 20 years of related experience. He specializes in M&A advisory services, primarily seller representation, from engagement to close.
AREAS OF FOCUS
- Mergers & Acquisitions
- Seller Representation
- Advisory Services
AFFILIATIONS AND CREDENTIALS
- Association for Corporate Growth – Nebraska Chapter, Member
- Alliance of Merger & Acquisition Advisors, Member
- Certified Merger & Acquisition Advisor
- BS in Finance, University of Nebraska, Lincoln, NE
- MBA in Finance, University of Chicago Booth School of Business, Chicago, IL
- Certificate in Private Capital Markets, Pepperdine University, Malibu, CA
- Youth Sports Coach
- Junior Achievement Volunteer
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