Metavesco, Inc. (OTC PINK:MVCO), a diversified holding company, has announced a significant expansion into the staffing industry through the acquisition of key assets from Epic Labor, Inc. The move, completed on September 27, 2024, marks Metavesco's entry into the lucrative $200 billion U.S. staffing market and represents a strategic diversification of the company's investment portfolio.
Through its newly created wholly-owned subsidiary, also named Epic Labor, Inc., Metavesco has acquired customer contracts, tangible assets, and the operating assets of Epic Labor's Nashville and Knoxville, Tennessee branch offices. These offices, previously operating under the name laborSMART, will be rebranded under the Epic Labor trademark, which is now owned by Metavesco.
The acquisition aligns with Metavesco's strategic vision of diversifying its holdings and investing in industries that offer resilient, long-term growth potential. By entering the staffing industry, Metavesco is positioning itself to capitalize on the ongoing demand for flexible workforce solutions, a trend that has been accelerating in recent years.
Ryan Schadel, CEO of Metavesco, expressed enthusiasm about the acquisition, stating, 'I am thrilled to finally have this acquisition completed. The staffing industry generates over $200 billion in revenue per year in the US alone.' Schadel also hinted at ambitious plans for the newly acquired assets, adding, 'We are going to build something amazing with the Epic Labor brand and we are going to Build in Public.'
This acquisition is significant for several reasons. First, it demonstrates Metavesco's commitment to diversifying its investment portfolio beyond its existing interests in bitcoin mining and consumer packaged goods. By entering the staffing industry, Metavesco is spreading its risk across multiple sectors, potentially providing more stable returns for investors.
Second, the move into staffing services positions Metavesco to benefit from the ongoing evolution of the labor market. As companies increasingly seek flexible staffing solutions to manage costs and adapt to changing market conditions, providers of on-demand temporary staffing are likely to see growing demand for their services.
Third, the acquisition of established branch offices in Nashville and Knoxville provides Metavesco with an immediate foothold in two significant markets. These locations can serve as a foundation for future expansion of the Epic Labor brand across the region or even nationally.
The staffing industry's resilience, even during economic downturns, makes this acquisition particularly noteworthy. As businesses often turn to temporary staffing solutions during uncertain economic times, Metavesco's entry into this sector could provide a buffer against potential market volatility in its other business areas.
For investors and industry observers, this move signals Metavesco's intent to become a more significant player in traditional industries while maintaining its interests in emerging sectors like cryptocurrency mining. The company's strategy of building a diverse portfolio of holdings across digital and traditional sectors could make it an interesting option for investors looking for exposure to both established and emerging markets.
As Metavesco integrates these new assets and begins to execute its vision for the Epic Labor brand, the industry will be watching closely to see how this diversified holding company leverages its new position in the staffing market. The success of this venture could have implications not only for Metavesco and its shareholders but also for the broader staffing industry, potentially introducing new innovations or business models to this well-established sector.
