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Barrett buys Arizona firm

January 03 2008
Barrett Business Services Inc. (NASD: BBSI) said it struck a deal to buy First Employment Services Inc., a Tempe AZ-based staffing firm. Barrett will pay $5.0 million for the company with $3.8 million paid in cash at the closing of the sale and the remainder after 12 months.

Privately held First Employment Services has one office each in Tempe and Phoenix and estimated 2007 revenue of $7.5 million. Its offerings include industrial, office/clerical, healthcare, and call center staffing.

Barrett said the buy will add three to four cents per diluted share for the 12 months following the effective date of the acquisition.

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