General Employment Enterprises Inc. (NYSE MKT: JOB), an Oakbrook Terrace, Ill.-based staffing provider, agreed to acquire Scribe Solutions Inc. In addition, Scribe Chairman and CEO Derek Dewan will take over the chairman and CEO roles at General Employment. Dewan at one time served as chairman and CEO of MPS Group Inc., which was acquired by Adecco in 2010 for $1.3 billion.

The company’s current CEO, Andrew Norstrud, will remain with the firm as CFO.

General Employment will issue Series A convertible preferred stock of the company in exchange for all of Scribe Solutions’ common stock. The exchange ratio is based on Scribe having a value between $6.4 million and $7.9 million. The deal is expected to occur during the first quarter of 2015.

Mary Claire Menze, who founded Scribe Solutions in 2008, will assume her previous role as president of Scribe. 

“The acquisition of Scribe brings to General Employment sustained profitability, one of the best CEOs in the industry and entry into the growing healthcare staffing market,” said Norstrud. “With the addition of Derek’s expertise, we will accelerate our efforts to build out the company’s service offerings in the professional and other staffing segments. In particular, I am excited about the company's entry into the higher margin and fast growing healthcare staffing market. Additionally, I am looking forward to working with Derek; his extensive experience in the staffing industry will be key in propelling our organic growth and leading a strategic acquisition strategy. We welcome the entire Scribe team to the General Employment family.”

“Andrew and the hardworking employees have achieved much success in building a great staffing company which will serve as the foundation and platform for General Employment to execute its strategy,” said Dewan. “The company is well positioned to increase its breadth and depth of service offerings, fuel internal growth, and acquire the best operating companies in the staffing industry. I look forward to assisting General Employment in achieving its strategic goals and increasing shareholder value.”

General Employment this month reported net revenue fell 16.7 percent to $9.4 million in the company’s fiscal fourth quarter ended Sept. 30. For the full fiscal year 2014, net revenue fell 14.4 percent to $39.8 million and net loss was $1.3 million.

General Employment provides professional staffing in information technology, engineering and accounting. It also provides light industrial staffing. Its brands include General Employment, Ashley Ellis, Triad and Omni-One.