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CRS Subsidiary Diamond Staffing Expands New Jersey Capabilities

CRS Subsidiary Diamond Staffing Expands New Jersey Capabilities

Corporate Resource Services, Inc the national US provider of temporary and permanent staffing services, has announced that effective on April 10, 2011, its subsidiary Diamond Staffing Services, Inc., has acquired substantially all the assets of Cameo Personnel Systems, Inc., a New Jersey-based company (Cameo) in the business of providing temporary and permanent employment staffing services and related support services. Cameo provides its services principally to clients in light industrial businesses through its 3 offices located in New Jersey and as a Licensor of Front Line Staffing, Inc, also located in New Jersey. Cameo recorded aggregate annual revenues in excess of $12 million (unaudited) in its last year ended December 31, 2011. Cameo will be integrated as a division of Diamond Staffing Services, Inc. The purchase price was approximately $750,000.

This acquisition, both strategically and geographically, fits well with Diamonds and CRSs existing lines of business, said Jay H. Schecter, Chief Executive Officer of CRS. We continue to see acquisition opportunities in the marketplace and intend to capitalize on those opportunities and enhance shareholder value.

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