Thursday, March 10, 2022
Kelly Services (KELYA)
Re-allocation of Capital Has Begun; Acquiring RocketPower
Kelly Services Inc is a provider of workforce solutions and consulting and staffing services. The company’s operations are divided into three business segments namely Americas Staffing, Global Talent Solutions (“GTS”) and International Staffing. It provides staffing solutions through its branch networks in Americas and International operations and also provides a suite of innovative talent fulfilment and outcome-based solutions through GTS segment. Americas Staffing generates maximum revenue from its operations.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Redeploying APAC Capital. In its first move since the February announcement of the sale of the majority of its APAC assets, Kelly Services is acquiring fast-growing RocketPower, a leading provider of Recruitment Process Outsourcing (RPO) and other outsourced talent solutions. Management described the business as “high-margin, high-growth assets,” although terms of the deal were not disclosed.
Who Is RocketPower? Founded in 2016 by Silicon Valley veteran Mat Caldwell, RocketPower is a leading provider of RPO and other outsourced talent solutions. RocketPower’s customers include rapidly scaling U.S. tech companies known for disrupting industries and changing the world. In 2021, RocketPower generated $28 million of revenue and anticipates triple digit growth in 2022 …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
