Staffing Business: Life Sciences and I.T.

Business Description For sale is a 6-year-old staffing agency located in New Jersey. The company provides staff augmentation, contract, contract-to-hire, permanent placement, statement-of-work, MSP partnerships, and other staffing services for I.T. and Life Science businesses across the United States. While the company started mainly providing I.T. talent to clients and a little bit of Life Sciences, it pivoted around at the end of 2019 to filling mostly Life Sciences positions. The staffing agency has master service agreements, including one large biotechnology client, with several companies to provide both remote and “feet in the building” staff. Revenue and earnings were down in 2020 due to the COVID pandemic. However, in 2021, the large biotechnology client grew exponentially and caused significant growth for the staffing agency, accounting for 37% of the total revenue. The biotechnology company continued to consume most of the staffing agency’s time in 2022, accounting for 75% of the revenue; however, 2023 will be more diversified for the agency. In addition to the large biotechnology client, the staffing agency is an FSP (functional service provider) with another client. The FSP brings yearly recurring revenue with higher margins than some other placements. https://www.loom.com/share/067d76bc497847619bc43b25953e9912 *Can be run remotely*