BGSF News & Events

BGSF announced the launch of BG Staffing, its new go-to-market brand reflecting a sharpened focus on the property management staffing industry. Following the divestiture of its professional division and the completion of its Transition Service Agreement, TSA, with INSPYR, the Company has emerged as a streamlined, pure-play provider of staffing and consulting solutions for the multifamily and commercial real estate sectors.

BGSF has joined the Yardi Independent Consultant Network (ICN). This milestone underscores BGSF's commitment to accelerating PropTech adoption by enabling property owners and managers to implement, optimize, and scale Yardi software solutions with the right expertise behind the platform. As a member of Yardi's ICN, BGSF expands its ability to support Yardi customers with experienced consultants who specialize in implementation support, system optimization, reporting, integrations, and ongoing operational assistance. The partnership enables property owners, operators, and investment managers to move faster, reduce risk, and maximize the value of their Yardi investment.

The Board of Directors of BGSF continues to evaluate the best use of excess capital and the Board approved a stock repurchase program under which BGSF may repurchase up to $5 million of its common stock.

Reports Q3 revenue $26.9M vs. $29.8M last year. Interim Co-Chief Executive Officer and Chief Financial Officer, Keith Schroeder, said, "The sale of BGSF's Professional division to INSPYR closed as planned following the shareholder vote on September 4th. Following the closing, the Board of Directors determined that a return to capital to the shareholders was appropriate and we announced and delivered a $2 per share special dividend which was paid on September 30. As part of the Board's continuing evaluation of the best use of BGSF's excess capital, today we are announcing a stock buyback plan of up to $5M. The Board believes that purchasing stock at current prices is a good investment for the company and reflects our confidence in BGSF's long-term strategy. We are now executing the Transition Service Agreement, which is progressing smoothly and will continue for up to six months or longer to support INSPYR in integrating the business into their operating environment. These services are compensated, and we remain focused on reducing overhead to align with our streamlined, Property Management-focused structure. As expected, our financial results post-close will be somewhat noisy for the next couple of quarters as we transition."