LO3 Capital Provides Senior Debt Investment to FastTrack Staffing
LO3 Capital, a private investment firm known for its transformative capital solutions for lower-middle market businesses, recently declared a senior debt investment in FastTrack Staffing, Inc., a prominent staffing service provider.
FastTrack Staffing, founded in 1982, specializes in temporary and temp-to-hire staffing solutions for a wide range of industries, including light industrial sectors, skilled trades, and non-clinical healthcare services. With fourteen strategically located offices across several states, FastTrack has developed robust customer relationships and established a reputation for delivering high-quality staffing solutions consistently.
Partnership With Experienced Leadership
This investment aligns with the acquisition of FastTrack by Randy Burkhart, who brings over three decades of experience in the staffing industry. Burkhart has collaborated with LO3 Capital previously, demonstrating a successful history of partnership, notably during the acquisition and exit of Bonney Staffing.
Continuity in Management
FastTrack's management team, under the guidance of COO Brad Dailey, will retain their roles post-transaction. Dailey's leadership since 2015 has been pivotal, expanding FastTrack from four to fourteen locations, marking significant growth for the company.
Vision for Future Growth
Glenn Harrison, Managing Partner & Co-Founder of LO3 Capital, shared insights on the investment, emphasizing FastTrack's scalable staffing platform and its established operating model. He highlighted how the company's disciplined approach, varied customer base, and seasoned leadership create a solid foundation for future growth. LO3 Capital's commitment to partnering with Burkhart signals excitement for the upcoming phase of FastTrack's evolution.
LO3 Capital's Investment Strategy
This strategic move marks LO3 Capital's fifteenth investment since its inception in September 2022. It underscores the firm's unwavering commitment to fostering long-term value creation through collaborative efforts with management teams and private equity sponsors.
About LO3 Capital
LO3 Capital is a minority-owned private investment firm that supports lower-middle market companies on their growth journeys. With offices located in Nashville, New York, and Dallas, the firm targets businesses generating over $3 million in EBITDA across various sectors. Their focus includes financing organic growth, acquisitions, recapitalizations, and ownership transitions, reinforcing their dedication to enhancing company performance. LO3 Capital previously operated as a division of Live Oak Growth Capital, and it continues to manage the funds associated with Live Oak.
Frequently Asked Questions
What is FastTrack Staffing known for?
FastTrack Staffing is renowned for providing temporary and temp-to-hire staffing solutions across multiple industries, including healthcare and skilled trades.
Who is Randy Burkhart?
Randy Burkhart is an experienced owner-operator in the staffing industry, taking over FastTrack Staffing to enhance its growth and operational success.
What is the role of LO3 Capital?
LO3 Capital provides private investment to lower-middle market companies, focusing on driving long-term growth and value through financial support and strategic partnerships.
How has FastTrack expanded its operations?
Under the leadership of COO Brad Dailey, FastTrack Staffing expanded from four to fourteen locations, significantly increasing its market presence.
What future plans does FastTrack have?
With the investment from LO3 Capital, FastTrack plans to further enhance its staffing operations and continue its growth trajectory in the staffing industry.
