Faber Connect, an industry innovator that connects tradespeople directly to construction companies through its technology offerings, today announced the successful acquisition of Prime Staffing, a construction staffing company in Edmonton. Following the transaction in June, Prime Staffing immediately demonstrated increased profitability, including a 70 per cent reduction in operating costs, reinforcing Faber's position as a transformative presence in the construction recruitment sector.
"Our vision has always been to revolutionize the way tradespeople and construction companies connect," said Sebastian Jacob, Chief Executive Officer and cofounder of Faber. "By combining our innovative platform with Prime Staffing's market expertise, this acquisition not only proves that our model works - it also showcases how our software can power the entirety of an established, existing business at a fraction of the opex."
Faber's software allows construction companies to connect with skilled trades workers through its easy-to-use platform. With the acquisition of Prime Staffing, the company is now able to tap into Alberta's largest pool of ready-to-work labourers. Founded in 1978, Prime Staffing is renowned as Alberta's top staffing partner, with more than 12,000 skilled tradespeople placed with businesses across the province.
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Matthias Friedel, formerly the General Manager of Prime Staffing, now Market Manager of Edmonton for Faber, added: "Joining Faber has allowed us to modernize our approach and bring even greater value to clients. We began benefiting practically overnight, and more efficient processes created a more effective pathway for tradespeople and companies to connect."
By using its fulfillment algorithm and software to run its staffing operations, Faber eliminated all brick-and-mortar costs for Prime Staffing, ranging from physical branches to paper timesheets. All Prime staff and its customers now interact through the Faber software.
"Our success in adding Prime Staffing to the Faber team truly reinforces our position as a leader in the construction recruitment sector," said John Reid, Chief Revenue Officer and cofounder of Faber. "Our growing customer base is providing the foundation we need to accelerate expansion into new markets, and create long-term value for our investors and customers alike."
With increased scale and a proven ability to integrate traditional and tech-driven staffing models, Faber is demonstrating its ability to help the construction sector get to work. The company intends to continue broadening its footprint in cities across Canada over the next 12 months, supported by strong investor confidence and market demand.
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Source: PRNewswire
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