Generational Equity, a leading mergers and acquisitions advisor for privately-held, middle-market businesses, is pleased to announce the acquisition of its client, Temploy, Inc., headquartered in Tustin, California, by Corporate Resource Services, Inc. (OTCBB: CRRS), headquartered in New York. The transaction closed on March 11, 2013. Terms of the transaction were not disclosed.
Temploy has been supplying qualified, temporary and full time employees to hundreds of businesses throughout southern California since 1979. The company focuses on providing superior service and customized processes to better meet their clients' needs by taking the time to understand their specific temporary employment requirements. As a result, Temploy has been a trusted partner to many of its clients for years. Managing Directors, Stephen Crisham and Lori Galloway, and their California representative, Cole Preston, led the Generational Equity deal team that advised Temploy on the transaction. According to Cole Preston, "Temploy is an excellent addition to CRS' footprint in the Southern California market where an impressive 30-year old tradition of exceptional service to clients of all sizes, including Fortune 500 customers, will continue for years to come."
Corporate Resource Services is a diversified staffing, recruiting, and consulting services firm providing managed services and trained employees in the areas of insurance, information technology, accounting, legal, engineering, science, healthcare, life sciences, creative services, hospitality, retail, general business and light industrial work. Company recruiters have the latest state of the art recruiting resources available to help customers secure the best candidates in today's ever-changing marketplace. CRS' national network of recruiters has staffing experts that get excellent results by focusing within their areas of expertise. "The Temploy acquisition is a welcome addition to the CRS family of companies and we are excited to integrate Temploy into our existing business in Southern California," said Mark Levine, Chief Operating Officer of Corporate Resource Services, Inc. "Temploy will help us increase our margins in the State of California as it has a book of business at higher profitability levels than our traditional business. We will leverage Temploy's best practices throughout the region and focus on delivering higher margin business to CRS and greater value to our shareholders."
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