COSTA MESA, Calif.--(BUSINESS WIRE)--D.A. Davidson & Co. announced today that it served as exclusive financial advisor to Command Center, Inc. (NASDAQ: CCNI) in its merger with Hire Quest Holdings, LLC, in an all-stock transaction.
Command Center, headquartered outside of Denver in Lakewood, Colorado, is a national provider of on-demand and temporary staffing solutions. Hire Quest is headquartered in Goose Creek, South Carolina, operating as Trojan Labor and Acrux Staffing, and is a privately held provider of blue collar, light industrial and administrative staffing. The combined company will transition into a fully franchised model.
“We have known the management team and board of Command Center for some time and are excited about the opportunity that the combined company will have in the temporary labor market,” said Eric Rindahl, managing director at D.A. Davidson. “The size and reach of a combined Command Center and Hire Quest will enable it to effectively compete and grow in what is still a rather fragmented category of the staffing industry.”
Command Center has issued 9,837,336 shares of its common stock to Hire Quest’s security holders, representing approximately 68% of the company’s outstanding stock post-transaction. The combined company will continue to operate under the Command Center name immediately following the merger, although the future combined organization may be renamed HireQuest, Inc. following notice and necessary filings. Rick Hermanns, Chief Executive Officer of Hire Quest, has 28 years’ experience in the staffing industry and will serve as chief executive officer of the combined company. Hermanns will also own approximately 40% of the combined company.
D.A. Davidson’s investment banking division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle market clients worldwide across five industry verticals: Consumer & Business Services, Diversified Industrials, Financial Institutions, Real Estate and Technology.
Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in Montana in 1935, with regional headquarters in Great Falls, Denver, Los Angeles, Portland and Seattle, the company has approximately 1,400 employees and offices in 25 states.
Subsidiaries include: D.A. Davidson & Co., the largest full-service investment firm headquartered in the Northwest, providing wealth management, investment banking, equity and fixed income capital markets services and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services; and Wells Nelson, a broker dealer offering public finance and wealth management services.
For more information, visit dadavidson.com.