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Select buys Tandem Staffing Solutions

October 03 2007

Select Staffing, part of The Select Family of Staffing Companies, said today it acquired Boca Raton FL-based Tandem Staffing Solutions. Terms of the deal were not disclosed.

Tandem ranked No. 80 on Staffing Industry Analysts' list of top U.S. staffing firms (May 18, 2007), with estimated revenue of $190.0 million in 2006.

Tandem, founded in 1974, provides light industrial, logistics and manufacturing staffing. The company has 44 branches and 40 on-site locations in 10 states, including flagship branches in Atlanta and Chicago. Tandem will operate under the Select Staffing name, while its Chicago offices will operate under the SelectRemedy brand.

"We're always looking for exceptional business opportunities in the way of acquisition," said Chairman and CEO Steve Sorensen. "Tandem's base of quality clients, competitive strength in key markets, and talented management and sales teams make this an excellent strategic fit."

Santa Barbara CA-based Select ranked No. 17 and the list of biggest staffing companies, however it has grown extensively. The company reported it will have annual revenue of almost $1.5 billion with the Tandem purchase, and will serve more than 10,000 customers in 35 states through more than 300 offices.

The Tandem purchase follows several acquisitions by Select. The company closed a deal in June to acquire Tampa FL-based Ablest Inc. for $11 a share or approximately $32.5 million; Ablest provided clerical, light industrial, information technology and financial staffing in 12 states. The buy took publicly held Ablest private.

SelectRemedy subsidiary RemX Financial Staffing also acquired Fortress Group Staffing of Denver and Princeton Staffing of Princeton NJ in the second quarter of 2007.

In 2006, Select acquired fellow Southern California staffing company and competitor RemedyTemp Inc. for approximately $169 million.


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