Metavesco, Inc. (OTC PINK:MVCO) has strategically expanded its business portfolio by acquiring significant assets from Epic Labor, Inc., a Georgia-based provider of on-demand temporary staffing solutions. This acquisition, finalized on September 27, 2024, through Metavesco's newly created wholly-owned subsidiary, Epic Labor, Inc., includes customer contracts, tangible assets, and the operating assets of Epic Labor's Nashville and Knoxville, Tennessee branch offices. These offices, previously known as laborSMART, will now operate under the Epic Labor trademark owned by Metavesco.
Ryan Schadel, CEO of Metavesco, highlighted the acquisition's alignment with the company's vision of diversifying holdings and investing in industries with resilient, long-term growth potential. The staffing industry, generating over $200 billion in annual revenue in the United States alone, presents a lucrative opportunity for Metavesco to capitalize on the increasing demand for flexible workforce solutions across various sectors.
This move represents a significant diversification for Metavesco, which has interests in bitcoin mining and consumer packaged goods, among others. By entering the staffing industry, the company aims to leverage the sector's stability and growth potential, further solidifying its market position. The acquisition includes assuming certain liabilities essential for the ongoing operations of the acquired business, ensuring service continuity for existing clients while fostering growth under Metavesco's umbrella.
The staffing industry's adaptability to changing work dynamics and economic fluctuations makes it an attractive sector for investment. Metavesco's strategy of Building in Public reflects its commitment to transparency and stakeholder engagement as it develops its staffing business. This acquisition not only signals Metavesco's ambition to become a key player in the staffing sector but also highlights the broader trend of holding companies diversifying their portfolios to mitigate risks and seize various market opportunities.
As Metavesco integrates Epic Labor's assets and expands its presence in the staffing industry, the company's ability to innovate and apply its experience from other sectors could redefine traditional staffing models. The promise to build something remarkable with the Epic Labor brand underlines Metavesco's potential to introduce fresh perspectives and technological advancements to the staffing industry, setting the stage for its future growth and impact.
