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M Squared Consulting, a San Francisco-based staffing firm, will be sold to SolomonEdwards LLC for $11 million, according to press releases. M Squared is being sold by Kelly Group, a South African-based staffing provider that is not part of U.S.-based staffing firm Kelly Services Inc. Kelly Group has had an ownership interest in M Squared since 1998.
The acquisition is expected to close this summer, pending final shareholder approval. M Squared provides staffing, and its Collabrus subsidiary provides independent contractor compliance services.
SolomonEdwards is a business advisory and professional staffing firm based in Wayne, Penn. This acquisition expands SolomonEdwards’ footprint to the West Coast. SolomonEdwards completed its first acquisition last October, acquiring DC-Metro based boutique professional services firm Virtus Consulting.