Dealflow | June 15, 2020

Worker-owned Obran Cooperative acquires Appalachian Field Services

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, June 15 – Obran is a holding company owned by the workers of two Baltimore-based staffing agencies: CORE Staffing, a temporary job-placement company launched and owned by formerly incarcerated individuals, and Tribe Works, which is focused on digital creative services.

Obran’s goal is to “create a very big holding company” that fuels profits back to employees of subsidiaries, Obran’s Joseph Cureton told NextCity. It looks for businesses with owners looking to exit and which Obran can help transition to worker ownership (see,Black and brown employee ownership for the post-COVID economy).

Its first acquisition is Appalachian Field Services, a home renovation and property management company that employs people recovering from substance abuse.