LO3 Capital has made a senior debt investment in FastTrack Staffing, a temporary and temp-to-hire staffing provider headquartered in Ocala, Florida, to support the company’s acquisition by staffing industry veteran Randy Burkhart.
FastTrack, founded in 1982, provides staffing and recruiting services across light industrial, skilled trades, and non-clinical healthcare. The company operates 14 locations across four states and serves a diversified customer base, positioning it as a scaled platform for continued expansion, LO3 Capital said.
Burkhart, an owner-operator with more than 30 years of staffing industry experience, is returning to a partnership with LO3 Capital after previously working with members of the LO3 team on the acquisition and exit of Bonney Staffing, according to the announcement.
FastTrack’s existing management team is expected to remain in place following the transaction. Brad Dailey, who has led day-to-day operations since 2015 and oversaw the company’s expansion from four to 14 locations, will continue as chief operating officer.
LO3 Capital said the deal represents its 15th investment since the firm’s September 2022 launch. The private investment firm, which is minority-owned, has offices in Nashville, New York, and Dallas and targets lower-middle market businesses with more than $3 million of EBITDA, providing financing for growth initiatives, acquisitions, recapitalizations, and ownership transitions.
KEY QUOTE:
“FastTrack operates a scalable staffing platform with a proven operating model. The company’s disciplined operating approach, diversified customer base, and experienced leadership team position it well for continued growth. We are excited to partner once again with Randy and to support the next phase of FastTrack’s development.”
Glenn Harrison, Managing Partner & Co-Founder, LO3 Capital
