SPAR Group Names James Gillis Executive Chairman Amid Executive Transition, Extends its U.S. and Canadian Revolving Credit Facility and Provides Updates on Move to Charlotte
- Move to Charlotte well underway; Corporate Administration, Finance and Accounting, Human Resources and Business Operations set to operate in new HQ in November.
- President William Linnane acquires a stake in the company.
SPAR Group, Inc. (NASDAQ:SGRP), a leading global provider of merchandising, marketing and retail solutions, announced that 40-year retail and distribution industry veteran James Gillis is Executive Chairman, effective immediately. Gillis will join recently named President William Linnane in leading and overseeing the organization.
As part of this leadership transition, Linnane will report to Gillis and hold overall responsibility for managing the company's operational execution with a targeted goal of achieving record-setting earnings by year-end 2026.
"I am honored to take on this expanded leadership role at such a pivotal time in SPAR's growth journey. Given my background, I'm comfortable with the role of taking SPAR to the next level and helping CPG companies dramatically enhance their in-store performance," said James Gillis, who previously led publicly traded in-store service provider Source Interlink. "Over the next 90 days, William and I will review all major departments, understand every part of the company, manage the successful relocation to Charlotte and ensure we have the right structure and talent in place to drive long-term profitability. We will be meeting with each executive team member to ensure the company's goals are completely aligned through the organization."
Gillis added that the divestiture of the company's international ventures and focus on the North American market is enabling it to drive performance and innovation for the benefit of SPAR's brand and retail partners.
Extended Credit Facilities
To prepare for future growth, the company also announces the amendment and restatement of its credit facilities, increasing the US Revolving Credit Facility to $30 million and also increasing the Canada Revolving Credit Facility to $6 million, with extensions on both facilities until October 10, 2027. Interest rates on the loans are equal to the Prime Rate designated from time to time by Wells Fargo Bank, plus 1.25%, or an aggregate minimum of 6.75% per annum, and other facility fees as designated in these agreements filed by SPAR on Form 8-K to the SEC dated October 16, 2025.
"These amended and extended revolving credit facilities strengthen our balance sheet and enhance the Company's liquidity and financial flexibility, supporting our disciplined capital allocation strategy to grow the business and create long-term shareholder value," Linnane said.
Move to Charlotte
Gillis and Linnane announced that effective November 1, 2025, SPAR Group's corporate headquarters will officially operate out of Charlotte, where the company is strengthening leadership and key operational functions.
"My new partnership with Jim streamlines this transition, and will be instrumental to the company's future success as we re-energize the business. Our move to Charlotte is helping us focus on the strategic goals of continued revenue growth, enhanced client engagement, focus on cost control, technology transformation and improved shareholder returns," said Linnane, who is making a significant investment in SPAR stock as part of his new role. "This is an exciting time to be leading SPAR."
The following divisions will operate out of Charlotte beginning November 2025:
- Corporate Administration
- Finance and Accounting
- Human Resources
- Business Operations
The company will work on further consolidation in 2026 to maximize the benefit of its new corporate headquarters.
Gillis added, "Relocating our headquarters to Charlotte represents the next chapter in SPAR's transformation—it positions us closer to major clients, enhances access to retail and technology talent and reflects our commitment to building a more integrated, high-performance organization."
Note to editors: Photos of Gillis and Linnane can be found here.
About SPAR Group, Inc.
SPAR Group is an innovative services company offering comprehensive merchandising, marketing and distribution solutions to retailers and brands. We provide the resources and analytics that improve brand experiences and transform retail spaces. We offer a unique combination of scale and flexibility with a passion for client results that separates us from the competition. For more information, please visit the SPAR Group's website at http://www.sparinc.com.
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