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System One Acquires Joul, Expanding its Strong National Network

System One Acquires Joul&eacute, Expanding its Strong National Network to Deliver Specialized Workforce Solutions

Transaction Enhances Expertise and Reach, Especially in Core Energy, Scientific, Engineering, Telecommunications and Technical Sectors

System One, a leading provider of specialized workforce solutions, today announced the acquisition of Joul&eacute Inc. and its subsidiaries, an established group of market-leading businesses operating under a single corporate umbrella. After the transaction, Joul&eacute’s extensive suite of professional and technical staffing solutions will operate as divisions of System One.

The combined companies will generate annual revenues approaching $500 million, with more than 6,000 employees and roughly 40 offices throughout the U.S. Additionally, System One is expected to become a top 5 U.S. engineering staffing company and a top 10 U.S. scientific staffing company. System One serves a broad group of large and middle market companies in its respective sectors.

The acquisition further expands System One’s national footprint and reach within the disciplines that have served as the company’s foundation for more than three decades, namely energy, scientific, engineering and design, telecommunications, and industrial operations. The integration of the two businesses creates a comprehensive and multi-disciplinary suite of contingent workforce management solutions, all offered from a single source.

“Exceptional synergies exist between System One and Joul&eacute,” said Troy Gregory, CEO of System One. “Not only do our business lines and geographic location perfectly complement each other, but our entrepreneurial cultures with tenured staff also contribute to the excitement about our collective future.”

“For more than four decades, Joul&eacute has built our culture around putting the interests of our clients and employees first,” said Joul&eacute Founder & Chairman Emanuel N. Logothetis. “This move reinforces our legacy of exceptional quality and customer service, while giving us the ability to take our business to the next level.”

System One is privately held and terms of the acquisition were not disclosed. Joul&eacute was advised on the transaction by Daroth Capital Advisors LLC and McElroy, Deutsch, Mulvaney & Carpenter, LLP ("MDM&C"). System One received legal advice from Clark Hill Thorp Reed.


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