IT Staffing Report: Aug. 15, 2013

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The Reserves Network buys engineering, IT, design firm

The Reserves Network acquired Summit Technical Services, a provider of engineering, information technology and professional design staffing. Plans call for Summit to continue operating under its own brand as part of The Reserves Network.

Summit Senior Vice President Jeff Casey will continue to oversee business operations. Summit founder and President Rick Barry will leave after 25 years with the company and 34 years in the staffing industry. All internal sales and recruiting team members will remain with the company.

Summit has four offices: Braintree, Mass.; Warwick, R.I.; Cheshire, Conn.; and Malvern, Penn. It was founded in 1988.

“Summit Technical Services has spent the past 25 years developing a distinguished reputation for providing superior talent to its customers,” said Neil Stallard, CEO of The Reserves Network. “We’re honored to have them as a part of our family. Their business model is a natural complement and significant addition to TRN’s specialty groups.”

Adds Nicholas Stallard, CFO of The Reserves Network: “This acquisition accelerates our growth plans and strategic expansion of services. It’s exciting for us to now be a part of these new markets, which Summit has been proudly serving for so many years.”

Terms of the transaction were not announced.

Summit marks The Reserve Networks’ first acquisition in the New England and Mid-Atlantic states. It is, however, the company’s third acquisition in the last five years.

The Reserves Network is based in Fairview Park, Ohio. It was founded in 1984.

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