Wednesday, November 25, 2020
Kelly Services Inc. (KELYA)
Expands Into Higher Education with Acquisition of Greenwood/Asher & Associates
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.
Refer to the full report for the price target, fundamental analysis, and rating.
Greenwood/Asher Acquisition. Monday, Kelly Services announced it had acquired Greenwood/Asher & Associates, a leading executive search firm specializing primarily in higher education. Neither terms of the deal or its impact on Kelly’s revenues were disclosed, but we would anticipate additional detail from the Company in the future. An adjacency to its existing educational services business, Greenwood/Asher expands Kelly’s offerings beyond the K-12 market. This marks the third acquisition in the educational space in the past four years for Kelly.
Attractive Higher Educational Space. Although we would expect Greenwood/Asher to be suffering similar negative COVID related impacts as Kelly’s K-12 business, longer term we believe the higher educational market is an attractive space. Decreasing average tenure of higher education chief executives, from about 12 years down to six years, should result in an increased volume of …
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.