US staffing firm CRS makes first European move with FlexPlus
13 November 2013
Hinckley, Leicestershire-based Flex Recruitment Plus has been confirmed as the firm acquired by US staffing provider Corporate Resource Services (CRS) in its first foray into Europe.
Wed, 13 Nov 2013Hinckley, Leicestershire-based Flex Recruitment Plus has been confirmed as the firm acquired by US staffing provider Corporate Resource Services (CRS) in its first foray into Europe.
CRS had announced in September that it was to acquire what it referred to as a then-unidentified “UK-based technology and staffing company”. A company statement says that FlexPlus will “act as our platform company in Europe”, as it looks for growth both organically and through acquisitions.
Temporary and permanent multi-sector recruiter FlexPlus has 40 employees and places around 750 temporary workers on a daily basis. Its turnover for the year 2012 was £15.2m, up from £11m in the previous year, making a £56k profit.
FlexPlus managing director and founder Adrian Hobbs tells recruiter.co.uk that he cannot reveal details yet of how expansion will take place. His firm’s immediate priority is to “look to tidy up and improve on our operating procedures, ready to engage and become a much larger business than we are today”.
He adds that expansion at the firm could take it in to Europe, where it currently supplies two clients, and confirms that the existing management team will remain in place.
CRS’s revenues in the year to 28 September 2012 (the most recent year available) totalled $639.8m (£402m). It has 231 staffing and on-site facilities in 42 US states and the District of Columbia, and already in 2013 had acquired three other US-based recruitment and staffing firms.
FlexPlus was advised on the deal by Ryecroft Glenton Corporate Finance (RGCF) and Square One Law.
In August, RGCF director Carl Swansbury had identified FlexPlus among recruitment firms potentially of interest to CRS chief operating officer Mark Levine.
CRS had announced in September that it was to acquire what it referred to as a then-unidentified “UK-based technology and staffing company”. A company statement says that FlexPlus will “act as our platform company in Europe”, as it looks for growth both organically and through acquisitions.
Temporary and permanent multi-sector recruiter FlexPlus has 40 employees and places around 750 temporary workers on a daily basis. Its turnover for the year 2012 was £15.2m, up from £11m in the previous year, making a £56k profit.
FlexPlus managing director and founder Adrian Hobbs tells recruiter.co.uk that he cannot reveal details yet of how expansion will take place. His firm’s immediate priority is to “look to tidy up and improve on our operating procedures, ready to engage and become a much larger business than we are today”.
He adds that expansion at the firm could take it in to Europe, where it currently supplies two clients, and confirms that the existing management team will remain in place.
CRS’s revenues in the year to 28 September 2012 (the most recent year available) totalled $639.8m (£402m). It has 231 staffing and on-site facilities in 42 US states and the District of Columbia, and already in 2013 had acquired three other US-based recruitment and staffing firms.
FlexPlus was advised on the deal by Ryecroft Glenton Corporate Finance (RGCF) and Square One Law.
In August, RGCF director Carl Swansbury had identified FlexPlus among recruitment firms potentially of interest to CRS chief operating officer Mark Levine.
