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New York-based staffing firm Corporate Resource Services Inc. (NSDQ: CRRS) extends its footprint outside the United States with the acquisition of UK-based Flex Recruitment Plus Limited (FlexPlus).
The acquisition closed today and marks CRS’ first presence outside the United States. Terms of the transaction were not disclosed.
FlexPlus will act as CRS’ platform company in Europe and the brand, as well as its existing management team, will remain. CRS plans to build its European business both organically and through acquisitions.
“The FlexPlus acquisition gives us a strategic presence in the U.K. and Europe,” said Michael J. Golde, chief financial officer of CRS. “This is a major win and will enable us to execute on cross-selling opportunities into the United Kingdom with CRS' existing client base. We see great potential in the U.K. and broader European market as economic conditions are improving and the demand for recruitment is expanding.”
FlexPlus staffs about 750 people daily and reports annual revenue of about £17 million, according to Golde. The company is based in Leicestershire in the U.K. Midlands and places temporary, contract and permanent candidates into the logistics, fulfillment, warehousing and retail sectors.
CRS operates 231 staffing and on-site facilities in 42 states and the District of Columbia. It ranks 28th on Staffing Industry Analysts’ list of fastest-growing staffing firms in the U.S.