SANTA BARBARA, CA – January 30, 2008 – SelectRemedySM announced that their parent company, Koosharem Corporation, has agreed to acquire certain assets of Cincinnati, Ohio-based Resolve Staffing, Inc. SelectRemedySM is a top-10 national staffing industry leader and the commercial division brand of Santa Barbara, California-based Select Family of Staffing Companies. The deal is expected to close on Friday, February 8, 2008, subject to satisfaction of applicable closing conditions. The transaction is expected to boost Select’s annual sales to $1.6 billion while serving more than 10,000 customers in 35 states from over 300 offices.
Founded in 1998, Resolve Staffing provides outsourced human resource services across the United States. The company offers a range of supplemental staffing and outsourced solutions, including professional employer organization services and solutions for temporary, temporary-to-hire, or direct hire staffing in the medical, truck driver, clerical, office administration, customer service, professional, and light industrial categories.
Based in Cincinnati, Ohio, Resolve Staffing operates 70 offices in 20 states, including a large presence in Ohio, Florida, and the Inland Empire of California. Resolve’s new brand name will be SelectRemedySM, while Resolve’s PEO business will operate under the brand Employee Leasing Services.
“Acquisitions have become a big part of our growth strategy, and Resolve will give us opportunities in temporary staffing as well as an entrée into the PEO business,” said Paul Sorensen, President of The Select Family of Staffing Companies. “Resolve has a solid base of quality clients and great strength in several niche markets, making this an excellent acquisition opportunity. In acquiring the Resolve assets, we will combine our strengths and unite our proficiencies, thereby increasing tremendously our ability to provide our customers with national solutions.”
The transaction is structured as a purchase of assets from Resolve's senior lender pursuant to Article 9 of the Uniform Commercial Code. Although SelectRemedySM is purchasing only specified assets and is not assuming any of Resolve's liabilities, SelectRemedySM intends to service Resolve's customer base and replicate the same PEO and staffing functions previously provided by Resolve. SelectRemedySM is committed to exceeding the high level of service that Resolve has historically provided to its customers.
Founded in Santa Barbara, California in 1985, The Select Family of Staffing Companies is one of the nation’s fastest-growing, full-service staffing companies. The company operates as SelectRemedySM, SelectRemedy™, Remedy® Intelligent Staffing, RemX® Financial Staffing, RemX® IT Staffing, RemX® OfficeStaff, and other national brands. SelectRemedySM offers premier workforce management services, including recruiting and screening professional job candidates, payroll and time attendance management, on-site supervision, proactive safety programs, and specialty staffing solutions, to a wide variety of client companies, including manufacturing, industrial, clerical, administrative, accounting, finance, information technology, and professional services.
For more information on The Select Family of Staffing Companies, please visit the company’s website at www.selectstaffing.com.