Corporate Resource Services Achieves Growth and Efficiencies Through Strategic Acquisition and Integration Program
Corporate Resource Services, Inc. (NASDAQ:CRRS), (the “Company” or, “CRS”), a diversified technology, staffing, recruiting, and consulting services firm, today commented on efficiencies and growth opportunities realized through the integration of recent acquisitions.
CRS has recently completed strategic acquisitions of more than a dozen staffing companies in the U.S. and abroad, consolidating more than 25 branch offices to the CRS network. In addition to realizing substantial efficiencies through the integration of centrally-managed back office functions, CRS has used each acquisition as a platform to introduce a wide range of corporate offerings, expanding the value and reach of each individual business.
“This achievement underscores not only the success of our growth strategy but the inherent ability of our organization to integrate diverse holdings, achieve operating efficiencies and leverage new acquisitions to expand our customer offerings,” said John Messina, Chief Executive Officer for Corporate Resource Services. “We have a proven track record of taking smaller, regional staffing companies and rapidly expanding their footprint by rolling out products and services proven to be effective throughout the CRS organization.”
In addition to sophisticated software platforms that centralize billing, human resources functions and automate critical recruiting operations, CRS introduces new methodologies and lines of business to acquired companies to achieve rapid market expansion.
“We have a strong base of offerings that include light industrial staffing, customer service, accounting and a wide range of professional services categories,” said Mark Levine, President of CRS. “With each of our acquisitions, we evaluate market conditions and expand our range of services to grow regional market shre and achieve larger economies of scale for the enterprise.”
Synergies achieved with acquisitions have led to greater product innovation for CRS overall. As new companies enter the CRS network, new lines of business and expertise are then integrated into the larger corporation.
“Through our recent acquisitions, we have entered new markets for temporary and permanent staffing, including healthcare, graphic design and engineering,” said Michael Golde, Chief Financial Officer for CRS. “These capabilities began with smaller businesses that we acquired, and have since grown into company-wide offerings that are now generating revenue across the entire network of CRS locations.”
“This success is not the capstone of a limited program, but rather a milestone in a sustained, ongoing strategy,” said Messina. “Market conditions are ideal for continued growth through organic expansion as well as strategic acquisition. We’re pleased with our progress to date, and look forward to generating increased shareholder value.”
Forward Looking Statements:
Certain information contained in this press release, particularly information regarding completion of this offering, constitutes forward-looking statements. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek,” “comfortable with,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
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.
The Company operates approximately 250 staffing and on-site facilities throughout the United States and the United Kingdom and it offers its services to a wide variety of clients in many industries, ranging from sole proprietorships to Fortune 1000 companies. To learn more, visit http://www.crsco.com