Corporate Resource Services comments on its 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 share 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.”