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CORESTAFF SERVICES ACQUIRES
GENERAL EMPLOYMENT SERVICE |
Contact:
Sally A. DeVito
CORESTAFF Services
Director, Public Relations and Field Marketing
713-438-1567
sdevito@corestaff.com |
HOUSTON, Texas, August 16, 2000 -- CORESTAFF Services announces the acquisition of staffing firms General Employment Service, Inc., which operates in the
Seattle/Tacoma area; and General Employment Oregon, Inc., which operates in Portland, Oregon as FlexForce Personnel Services. The combined organization is one
of the leading staffing services companies in the Puget Sound area and is owned by Bradson International Services, Inc. of Ottawa, Canada. With this acquisition,
CORESTAFF broadens its service offerings in two major Pacific Northwest markets. Under the terms of the agreement, which closed August 14, CORESTAFF will pay
Bradson International Services approximately $13 million, with a portion of the acquisition price tied to earnings performance in the first six months of the
agreement. In the most recent fiscal year ending, General Employment’s revenues were $42 million.
Tom Stinson, president of General Employment Service, will join CORESTAFF as senior vice president and general manager and will continue to oversee operations for
General Employment’s seven branch offices. Stinson will become a member of CORESTAFF’s management committee. The newly acquired organization will operate under the
name General Employment CORESTAFF.
"The acquisition is a perfect fit for CORESTAFF since we were originally built by combining ‘best of breed’ regional staffing companies," said Bob McNabb,
president and chief executive officer. "General Employment Service fits this profile and brings the geographic significance we have been looking for to increase
our business and service offerings in the Pacific Northwest. We look forward to the additional opportunities that will develop for both companies."
"We are excited to be part of a dynamic staffing company with technology leadership, national presence and national resources," said Stinson.
"CORESTAFF’s strong profile provides us with the expanded resources we need to grow our marketplace, enhance our service, and meet the changing needs of our
clients."
About CORESTAFF Services
CORESTAFF Services, a leading national staffing company headquartered in Houston, Texas, is part of The Corporate Services Group PLC, an international staffing
firm headquartered in the United Kingdom. CORESTAFF provides a full range of supplemental staffing and outsourced solutions, including office support, light
industrial, financial and information technology staffing. CORESTAFF has approximately 900 staff employees and an average of 25,000 temporary associates on
assignment weekly throughout the U.S. The company currently operates more than 100 branch offices and over 100 on-site client locations. CORESTAFF Services
operates four web sites: corestaff.com, it.corestaff.com,
careertrust.com and infocurrent.com.
About General Employement Service, Inc.
General Employment Service has been operating in the Seattle area for over 50 years. In Oregon, the company operates under the name FlexForce Personnel Services.
General Employment provides solutions for temporary, temporary-to-hire, or direct hire staffing in the clerical, office administration, customer service,
professional and light industrial categories. General Employment has approximately 75 staff employees and an average of 1,500 temporary associates on
assignment weekly. The company currently operates seven branch offices in the Seattle/Tacoma, Washington and Portland, Oregon markets. General Employment
Service Inc.’s web site can be viewed at www.genemp.com.
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