Metavesco, Inc. (OTC PINK:MVCO), a diversified holding company, has announced the acquisition of significant assets from Epic Labor, Inc., a Georgia-based provider of on-demand temporary staffing solutions. The move marks Metavesco’s strategic expansion into the lucrative staffing industry, which generates over $200 billion in annual revenue in the United States alone.
The acquisition, completed on September 27, 2024, involves Metavesco’s newly created wholly-owned subsidiary, Epic Labor, Inc., taking over customer contracts, tangible assets, and the operating assets of Epic Labor’s Nashville and Knoxville, Tennessee branch offices. These offices, previously operating under the name laborSMART, will be rebranded under the Epic Labor trademark, now owned by Metavesco.
Ryan Schadel, CEO of Metavesco, expressed enthusiasm about the acquisition, stating, ‘I am thrilled to finally have this acquisition completed. This acquisition aligns perfectly with our strategic vision of diversifying our holdings and investing in industries that provide resilient, long-term growth. We are going to build something amazing with the Epic Labor brand and we are going to Build in Public.’
The move into the staffing industry represents a significant diversification for Metavesco, which has interests in various sectors including bitcoin mining and consumer packaged goods. This expansion into temporary staffing solutions positions the company to capitalize on the growing demand for flexible workforce solutions across various industries.
As part of the agreement, Metavesco will assume certain liabilities necessary for the ongoing operations of the acquired business. This approach ensures continuity of services for existing clients while providing a platform for growth under the Metavesco umbrella.
The staffing industry has shown resilience and adaptability, particularly in the face of changing work dynamics and economic fluctuations. By entering this space, Metavesco aims to tap into a market that offers both stability and growth potential. The company’s strategy of ‘Building in Public’ suggests a commitment to transparency and engagement with stakeholders as it develops its newly acquired staffing business.
For investors and industry observers, this acquisition signals Metavesco’s intent to become a significant player in the staffing sector. The company’s diverse portfolio, now including temporary staffing solutions, may offer increased stability and growth opportunities. As Metavesco integrates these new assets and expands its presence in the staffing industry, it will be interesting to watch how this move impacts its overall performance and market position.
The staffing industry’s $200 billion annual revenue in the US underscores the significant market opportunity that Metavesco is pursuing. As businesses continue to seek flexible staffing solutions to manage workforce needs efficiently, companies like Metavesco’s Epic Labor are well-positioned to meet this demand.
This acquisition also reflects a broader trend of diversification among holding companies, as they seek to balance their portfolios across different sectors to mitigate risks and capitalize on various market opportunities. Metavesco’s move into staffing, alongside its existing interests in technology and consumer goods, exemplifies this strategy.
As Metavesco begins to operate and grow its new staffing business, the industry will be watching to see how the company leverages its experience in other sectors to potentially innovate within the staffing space. The promise to ‘build something amazing’ with the Epic Labor brand suggests that Metavesco may be looking to bring fresh perspectives and possibly technological innovations to the traditional staffing model.
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