---
schema_version: "secwatch.filing_event.v1"
accession: "0001474903-23-000042"
form_type: "8-K"
ticker: "BGSF"
cik: "0001474903"
company_name: "BGSF, INC."
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T12:33:40.268975+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# BGSF completes $8M acquisition of Arroyo Consulting; adds 300+ IT professionals in Colombia and India

## Summary
- Purchase price $8.0M; $6.8M cash at closing, $350K and $850K in holdbacks.
- Earn-out up to $8.5M over two years subject to performance targets.
- Arroyo had unaudited FY2022 revenue of $16.2M.
- Adds nearshore/offshore IT consulting in Colombia and India with over 300 skilled professionals.
- CEO Beth Garvey: acquisition responds to customer demand for offshore/nearshore solutions.

## SEC filing metadata
- accession: 0001474903-23-000042
- form_type: 8-K
- ticker: BGSF
- cik: 0001474903
- company_name: BGSF, INC.
- filed_at: 2023-04-26T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1474903/000147490323000042/0001474903-23-000042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1474903/000147490323000042/bgsf-20230424.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001474903-23-000042
- JSON: https://secwatch.observer/filing/0001474903-23-000042.json
- Plain text: https://secwatch.observer/filing/0001474903-23-000042.txt

## Key facts
- M&A Transactions
  BGSF, INC. completed an acquisition involving Arroyo Consulting LLC for $8.0 million (closed 2023-04-24).
  - Action: acquisition
  - Counterparty: Arroyo Consulting LLC
  - Consideration: $8.0 million
  - Closing: 2023-04-24
  source text: with operations in the US, Colombia and India. For the fiscal year ended December 31, 2022, Arroyo Consulting had unaudited revenue of $16.2 million. The purchase price was $8.0 million, subject to a working capital adjustment, of which $6.8 million cash was paid at closing. $350,000 of the purchase price was held back until the later of (i) the working capital
  evidence_url: https://www.sec.gov/Archives/edgar/data/1474903/000147490323000042/0001474903-23-000042-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.