Staffing provider CorTech International acquired the assets of Caliper Family of Companies, an industrial and clerical staffing business based in Virginia Beach, Va.
The transaction closed March 29; terms were not disclosed. David Hodgson will remain with the firm as a VP and run the Caliper brand, which will operate as Caliper, a CorTech company.
Caliper serves the industrial, admin/clerical, professional services and IT staffing sectors. It provides national search, local office industrial clerical and an on-site staffing solution.
Caliper has 14 offices located in Virginia, Ohio, Michigan, North Carolina, Kentucky and Indiana. With the acquisition, CorTech has 37 US locations; Caliper added 57 internal staff and approximately 2,000-plus associates.
CorTech said over the last 15 months it has parted ways with “roughly $58 million of lower margin business that no longer made business sense,” and that gross margins during this period increased by about 5%. CorTech currently has an annual sales run rate of about $190 million. It also added next-generation search and automation tools with its Recruiter-X solution to help drive productivity to its business operations.
“We are also excited to merge Caliper’s National Search team with the CorTech centralized search operations and cross train the PowerRecruiter/Recruiter-X search technologies and other synergies that are utilized by CorTech and Caliper,” CorTech CEO Vincent Rossy said. “Caliper is a great natural plugin for CorTech International and we are extremely excited to have the Caliper team on board.”
Atlanta-based Cortech has acquired eight companies since September 2015 and previously stated it aimed to add up to $110 million in sales via acquisitions by the end of 2016.