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Staffing M&A announcements: CoAdvantage, ZRG, Pro Staff

February 28 2014

Several staffing firms made merger and acquisition announcements this week. CoAdvantage Corp. acquired two companies. Executive search firm ZRG Partners bought a search firm. Pro Staff assumed operations in Atlanta .

CoAdvantage Corp. acquires two firms

Professional employer organization CoAdvantage Corp. acquired Colorado-based Discovery Outsourcing LLC and New Jersey-based Compensation Solutions.

Management teams of both companies will join CoAdvantage in leadership roles. Discovery Outsourcing CEO Todd Beutel will join CoAdvantage as president of the West region. Andrew Stohl, Discovery Outsourcing’s CFO, will also join CoAdvantage as COO of the West region.

Private equity firm CIP Capital acquired CoAdvantage Corp. last year. The company ranks No. 12 on Staffing Industry Analysts’ 2012 list of largest PEOs.

ZRG Partners Inc. acquires New Directions Search

Executive search and human capital management firm ZRG Partners Inc. acquired New Directions Search, a retained search firm headquartered in Wheaton, Ill. New Directions Search provides senior-level executive search to the manufacturing and industrial sectors.

The transaction closed Feb. 12; terms were not disclosed.

The New Directions Search brand will remain and initially operate as a division within ZRG Partners.

New Directions President Nate Frank will be the new head of the global manufacturing and industrial practice for ZRG Partners; New Directions CEO Dale Frank will remain in a long term consulting role and continue to manage senior level searches. Three vice presidents — Robert Wolgemuth, Richard Santarelli, and Tim Sezonov — will join ZRG Partners. Additionally, Jesse Viars is joining ZRG as a senior consultant and Kyrsten Prosser was named the head of manufacturing and industrial research. All New Directions Search support staff will also remain with the firm.

Boston-based ZRG operates globally with offices in the U.S., Europe and Asia Pacific.

ProStaff assumes operations

Pro Staff is assuming operations of Navigator Staffing Services to the Atlanta market, effective March 3. Navigator Staffing Services, a seven-year old staffing company, is owned by former Pro Staff employee Craig Barnes, who is retiring from the company and industry.

Navigator will immediately transition to the Pro Staff brand. Terms of the transaction were not disclosed.

Pro Staff is owned by Minneapolis-based staffing provider Atterro Human Capital Group and specializes in administrative and light industrial staffing; Navigator also specializes in clerical and administrative staffing.


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