TERRA Staffing Group Named to Middle Market Fast 50 List
Everett, WA, June 5, 2023 - TERRA Staffing Group, a Hastings Equity Partners Fund V investment, was named to Puget Sound Business Journal's Middle Market Fast 50 List.
The list appraises and highlights public and private business headquartered in Washington that are within the middle market category. The companies on this list generated a combined $12.9 billion in revenue last year, growing their combined revenue by 65% from three years ago.
Grant Reckhow, Principal at Hastings Equity, commented on TERRA’s achievement, “We are incredibly proud of the TERRA team and what they have been able to achieve. We partnered with the founders in early 2023. The global labor shortage has affected companies everywhere – industrial and administrative roles included. TERRA is uniquely positioned to capitalize on global trends in temporary labor market growth by providing unique, technology-driven solutions to companies with difficult-to-fill jobs that often strain Human Resource departments.”
According to the National Center for the Middle Market, only 3% of all U.S. companies operate in the middle market, but they account for a third of the private-sector GDP and jobs. The center identifies it as the segment that "drives U.S. growth and competitiveness."