Daily News

View All News

Resources Connection completes Accretive Solutions acquisition

December 05, 2017

Resources Connection Inc. (NASD: RECN) completed its acquisition of Accretive Solutions Inc., a Chicago-based firm that provides consulting, staffing and outsourcing services. Resources Connection is paying $19.4 million in cash plus 1.15 million shares of restricted common stock for the firm.

The transaction was first announced in November.

Accretive Solutions operates eight offices across the US. It will transition into the RGP brand over the next six to nine months, except for its Countsy brand, which provides a back-office suite of services to startups.

RGP continues to expect the transaction to increase RGP’s revenue by approximately $65 million to $70 million after nine to 12 months.

“We are confident that Accretive’s complementary capabilities will strengthen RGP’s core competencies and we expect it will enable us to capitalize on growth opportunities in key US geographies, capture additional market share in the middle market, and expand our offerings to startups,” said RGP President and CEO Kate Duchene. “Today’s closing marks the start of an exciting new chapter for RGP and Accretive, and we look forward to the significant value this transaction can create for both our clients and shareholders.”

Resources Connection operates as Resources Global Professionals and the Irvine, Calif.-based firm ranks as the sixth-largest US provider of finance/accounting staffing.