One of America’s largest recruiting, staffing and technology companies has acquired Hinckley-based Flex Recruitment Plus.
The rapidly-growing Nasdaq-listed giant Corporate Resource Services Inc has bought recruitment and technology services firm FlexPlus which has offices across the East and West Midlands.
Adrian Hobbs, Managing Director of FlexPlus, said: “This is the first acquisition in the UK for CRS Inc and with the strength and additional resources they bring to the FlexPlus business we can strengthen our service capabilities for our new and existing clients.
“The long-standing directors of FlexPlus will remain with the business and are excited by the opportunities for our staff who have battled through the recession to get us to this point now.
“We believe that with CRS Inc we will, as a business, just get stronger and our innovative ways will deliver even better products and services for the recruitment industry as a whole, making it easier for the workforce to access the emerging vacancies and our customers to recruit rapidly and cost effectively.”
Carl Swansbury, director of Ryecroft Glenton Corporate Finance who advised FlexPlus’ shareholders on the sale, said: “This is a great transaction to have advised on – one which has resulted in one of America’s largest technology and staffing companies acquiring a privately owned business here in the UK.
“FlexPlus is an innovative business and has a strong on-site and online presence across the UK, and a fantastic industry reputation. With the strength and resources of CRS Inc, FlexPlus will continue to go from strength to strength.”
Adrian added: “The strategic and cultural fit of FlexPlus and CRS is ideal. We have grown FlexPlus considerably and profitably over recent years, and believe that the future growth of the business is best achieved in partnership with a larger business that can help us diversify into new locations and sectors.
“Carl Swansbury and his team at RGCF, along with James Bryce and his team from Square One Law LLP have worked tirelessly throughout the entire transaction to ensure our objectives have been achieved. They have been central to this deal, and have proved to be invaluable team members.”
Mark S. Levine, Chief Operating Officer for Corporate Resource Services, said: “We are very excited with the addition of FlexPlus to our team.
“This acquisition will act as our platform company in Europe and we will be utilising the existing management team at FlexPlus to build our European business both organically and through acquisitions.”
Michael J. Golde, Chief Financial Officer of Corporate Resource Services, added: “The FlexPlus acquisition gives us a strategic presence in the UK and Europe.
“This is a major win and will enable us to execute on cross-selling opportunities into the United Kingdom with CRS’ existing client base.
“We see great potential in the UK and broader European market as economic conditions are improving and the demand for recruitment is expanding. FlexPlus’s technology offerings are also a perfect fit with ours.
“The acquisition will be immediately accretive to earnings, and as we welcome FlexPlus into our family, we see a clear path to creating even greater overall profitability and increasing value for our shareholders.”
