Atlantic International Corp. Seals $10 Million Staffing Deal
Atlantic International Corp. Secures Major Workforce Agreement
Atlantic International Corp. (“Atlantic”) (Nasdaq: ATLN), a recognized leader in strategic staffing and workforce solutions, has recently announced a significant development. The company’s subsidiary, Lyneer Staffing Solutions, has entered into a robust workforce agreement with a prominent industrial distributor serving multiple sectors, including aerospace, defense, automotive, and medical.
Potential Growth from the New Agreement
This strategic partnership is poised to generate up to $10 million in total business, with expectations of $5 million dedicated to contract work and another $5 million allocated for direct hires. Jeffrey Jagid, CEO of Atlantic, emphasized the agreement's potential as a vehicle for growth, aligning perfectly with the company’s strategic goals. "This collaboration allows us to potentially capture a significant share of our client’s staffing needs," he stated.
Comprehensive Staffing Solutions
Lyneer Staffing Solutions is set to provide comprehensive staffing options across over 20 locations throughout the continental United States. This includes services for temporary and permanent placements, which enhances Atlantic’s established presence within the industrial staffing sector.
Leadership Insights from Atlantic and Lyneer
Todd McNulty, the CEO of Lyneer, expressed enthusiasm about the agreement, stating, "Our capability to meet both contingent and direct hire staffing needs across diverse locations marks us as a vital staffing partner. This agreement allows us to broaden our workforce solutions footprint." This partnership exemplifies the synergy between Atlantic and Lyneer, reinforcing their commitment to delivering exceptional staffing solutions in a competitive market.
Understanding Atlantic International Corp.
Atlantic International Corp. stands out as an innovative and adaptive company in the staffing industry. Known for executing high-growth strategies, the company, through its subsidiary Lyneer Investments LLC, delivers comprehensive human resource solutions. Currently, Atlantic operates 40 independent on-site vendor facilities and proudly employs over 12,000 individuals weekly. According to Staffing Industry Analysts, Atlantic ranks among the top 20 largest national staffing firms, catering to various sectors including light industrial, commercial, professional, finance, and managed services.
Financial Performance and Future Outlook
Atlantic’s employee base of approximately 300 has contributed to significant financial performance, generating over $400 million in revenue in the recent financial year. This impressive figure underscores the company’s stable foundation and growth potential within its industry, positioning it favorably for future endeavors.
Commitment to Excellence in Staffing Solutions
By expanding its capabilities through strategic agreements like the recent one with a leading distributor, Atlantic International Corp. showcases its commitment to excellence in staffing solutions. The initiative is not just about fulfilling immediate staffing needs; it’s a foundation for establishing long-term relationships with significant industry players.
Frequently Asked Questions
What is the value of the recent agreement by Atlantic International Corp.?
The agreement is valued at up to $10 million, with $5 million expected from contract business and $5 million from direct hire spending.
Who is the agreement with?
The agreement is with a major North American distributor operating in diverse sectors, including aerospace and automotive.
What services will Lyneer Staffing Solutions provide?
Lyneer will offer comprehensive staffing solutions, which include both temporary and permanent placement services.
How does this agreement align with Atlantic's growth strategy?
This strategic agreement enhances Atlantic's capability to capture staffing needs and expands its workforce solutions footprint.
What is Atlantic International Corp.'s revenue performance?
Atlantic generated over $400 million in revenue for the previous twelve months, showcasing its strong market position and growth potential.
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