SPAR Group, Inc., a leading global provider of services to retail and consumer goods companies, today announced that its Board of Directors has initiated a process to evaluate potential strategic alternatives to maximize shareholder value. As part of the process, the Board will consider a full range of strategic alternatives, including a sale, merger, divestiture, recapitalization, going private, other strategic transactions, or continuing to operate as a public, independent company.
The Company has retained Lincoln International LLC as its financial advisors to assist with the strategic review process.
“With a strong balance sheet, 90%+ revenue growth over the last 5 years, increased profit margins, diversified services and long-term relationships with some of the most important consumer goods and retail companies in the world, we believe we are in the best financial and operational position in the company’s history, yet our stock continues to trade well below a comparable industry value,” said Mike Matacunas, President and CEO. “The management team is aligned with the Board that the best way to maximize shareholder value is to explore options that will unlock our potential and provide a platform for continued growth and success. Regardless of the process or outcome, the entire SPAR organization will remain committed to the execution of our work, growing our business, serving our clients and supporting our employees and joint venture partners.”
The Board has not set a timetable for the conclusion of this review, nor has it made any decisions related to any further actions or potential strategic alternatives at this time. There can be no assurance that the review will result in any transaction or other strategic change or outcome. The Company does not intend to comment further until it determines that further disclosure is appropriate or necessary.
About SPAR Group, Inc.
SPAR Group is a leading global services company, providing a broad range of services to retailers, manufacturers and consumer goods companies around the world. Our combination of scale, unique technology and expertise, combined with our unwavering commitment to excellence, separate us from the competition. For more information, please visit the SPAR Group’s website at http://www.sparinc.com.
Investor Relations Contact:
Three Part Advisors, LLC