LUTZ BUSINESS INSIGHTS
Lutz M&A advises Labor Source on its recapitalization by Great Range Capital
BILL KENEDY, LUTZ CONSULTING AND M&A SHAREHOLDER
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, Bill Kenedy 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
BILL KENEDY + LUTZ CONSULTING AND M&A SHAREHOLDER
Bill Kenedy is a Lutz Consulting and M&A Shareholder at Lutz. He specializes in business valuation, litigation support, and merger and acquisition advisory services.
AREAS OF FOCUS
AFFILIATIONS AND CREDENTIALS
- American Institute of Certified Public Accountants, Member
- Nebraska Society of Certified Public Accountants, Member
- Certified Public Accountant
- Accredited in Business Valuation
- Certified in Financial Forensic
- Certified Exit Planning Advisor
- BSBA in Accounting, St. John’s University, Collegeville, MN
- Construction Financial Management Association, Past Treasurer, Board Member
- A Time to Heal (non-profit focused on cancer patients), Board Member
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