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U.S. Private Equity Sells Japanese Staffing Firm

March 29 2012

The management of Japan’s seventh-largest staffing firm — which sold off most of its U.S. and European operations late last year — is now acquiring the company from an investment group that includes New York-based private equity firm Cerberus Capital Management.

The company, Prompt Holdings, announced its management struck a deal to buy the company with the financial backing of CVC Asia Pacific.

Prompt will change its name to Technopro Holdings in the deal. Charles Abadie will continue as director and chairman of the company.

Prompt was formerly known as Advantage Resourcing before selling much of its U.S. and European operations to Recruit Co. Ltd., the largest Japanese staffing firm on Dec. 31.

Prior to taking the Advantage name in a rebranding, the company was Radia Holdings Inc.

The newly named Technopro brands will include Ctec, Technopro Engineering, CSI, Hitec, N&C and Technopro China.

The deal is expected to close in April. In addition to Abadie, Prompt Chief Operating Officer Keith Mitchell will remain as CEO of the new firm, and Yasuji Nishio will continue as CFO.

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