Caymus Equity Partners (“Caymus Equity”), a lower middle market private equity firm, has announced that its portfolio company, Hospitality Staffing Solutions, LLC (“HSS”), has acquired FoodStaff (“FoodStaff”). Headquartered in Charleston, SC, FoodStaff provides temporary and full-time personnel to key sectors within the hospitality industry, specializing in serving the food and beverage staffing needs of its clients with a strong presence in the Educational, Corporate Dining and Banquet/Event Staffing sectors. Founded in 1988 by CEO Bailey Bolen, FoodStaff operates seven offices in the Southeast and Mid-Atlantic regions of the United States. The acquisition of FoodStaff by HSS will support its clients across the United States, utilizing HSS’s wide branch network of more than 70 markets and applicant database to further the combined company’s support of its key business partners. FoodStaff’s clients include Compass Group, Sodexo USA, Sage Dining, and Marriott International. Mr. Bolen will remain with the company through a transition period in 2019 and all FoodStaff’s current internal and temporary employees will be retained by HSS.
Tim McPherson, CEO of HSS, said, “FoodStaff is a perfect fit for our growing organization. Over the past 30 years, Bailey has created a trusted partner to the hospitality industry, providing quality personnel to many of the industry’s leading companies. The addition of FoodStaff will further the strategic growth of our company as we offer new and existing clients trained staff in the food and beverage sector. This acquisition is another significant investment to strengthen HSS as a key partner to its customers and we are actively targeting additional add-on investments that will further extend our ability to deliver a breadth of talented staff.”
“I was searching for a partner who shares the same philosophies towards excellence in service, training, and professionalism. I have found that partner in HSS and we are excited to help accelerate HSS’s strategic growth with additional service offerings to its core hotel and resort clientele, as well as helping them move deeper into new niche sectors on a national level, including colleges, schools, universities, hospitals, senior living facilities and corporate dining,” said Mr. Bolen.
The transaction represents HSS’s second acquisition since Caymus Equity partnered with Littlejohn Capital, Littlejohn & Co. and management to acquire HSS in January 2014 and represents an important step in the company’s strategy to move into new geographic areas as well as new vertical markets. The transaction closed on February 26, 2019. To learn more about HSS, visit hssstaffing.com.