Elwood Staffing acquired BelFlex Staffing Network, a provider of commercial staffing headquartered in Cincinnati. The deal closed Jan. 15.
“The growth potential for Elwood and BelFlex is extremely exciting,” Elwood Staffing CEO John Elwood said in a press release. “BelFlex will gain access to Elwood’s deep bench of support resources, and we will leverage one another’s footprints and expertise to expand client offerings and target new markets.”
The deal adds 26 branch locations to Elwood in 19 new markets. It expands Elwood’s presence in Ohio and North Carolina and takes the company into West Virginia and Arkansas.
While Elwood already ranked as the 10th-largest US industrial staffing firm, the deal will expand its presence to more than 215 offices and more than 70 vendor-on-premise locations operating in 33 states.
The acquisition comes as Elwood remains on a growth track. It aims to create a rounded offering of traditional staffing, skilled trades staffing and professional/executive search. This marks Elwood’s 20th acquisition since the company launched.
Plans also call for the BelFlex business to continue operating under the BelFlex brand as a subsidiary of Elwood.
“It was important to us to find a successor who shared the culture and values that have made BelFlex successful since 1989,” BelFlex CEO Jason McCaw said in a press release. “As a fellow family-owned business that shares the importance of putting relationships at the center of everything they do, we’re confident we have found that partner in Elwood Staffing.”
Terms of the transaction were not announced.