Corporate Resource Services, Inc. (NASDAQ: CRRS), a diversified technology, staffing, recruiting, and consulting services firm, today announced that it has acquired New Jersey-based Staff Management Group.
“This is a strategic acquisition for Corporate Resource Services in New Jersey,” said John P. Messina, Chief Executive Officer for CRS. “Staff Management Group generates over $85 million in sales and positions CRS as the largest staffing provider in the State of New Jersey. Dennis Omahen, Managing Partner of Staff Management Group, and his management team bring many years of experience to CRS and we plan on leveraging their business practices throughout the entire Tri-State Region. The synergies that exist in this new relationship will capture additional market share and create incremental profits for the corporation.”
“We are excited to have Staff Management Group as a member of CRS and we will benefit tremendously from this acquisition,” said Mark S, Levine, Chief Operating Officer for Corporate Resource Services, Inc. “The management team and location of Staff Management Group’s offices complement our existing New Jersey infrastructure and we’re optimistic about the growth and efficiencies CRS will realize in the next several months. Many of Staff Management's clients are recognized as nationwide companies and we’re looking forward to expanding these customer relationships throughout CRS’s national and international network.”
“The Staff Management Group business will generate additional revenues for CRS, but most importantly will increase our profit margins in a very competitive marketplace,” said, Michael J. Golde, Chief Financial Officer of CRS. “Staff Management puts over 4,000 employees to work every day at many businesses throughout New Jersey, and by acquiring this business, CRS will increase shareholder value and position ourselves as a dominant force in the Northeastern United States.”About Corporate Resource Services, Inc.: Corporate Resource Services, Inc. provides cloud-based enterprise applications and hosting services to PEO and staffing companies, as well as diversified staffing, recruiting, and consulting services. The Company offers 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. The company’s blended staffing solutions are tailored to our customers’ needs and can include customized employee pre-training and testing, on-site facilities management, vendor management, risk assessment and management, market analyses and productivity/occupational engineering studies.