29
Mar
2017
CorTech International Acquires Assets of Caliper Companies and Provides Updates on Business Realignment Processes
CorTech Continues Acquision Strategy
CorTech Continues Acquision Strategy
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 admin/clerical, professional services, IT and industrial 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. In December, it acquired the assets of Resources4Staffing, an industrial and clerical staffing business based in the Southern California city of West Covina. In September, it acquired MSI International, a 48-year-old recruiting firm also based in Atlanta, and in June it acquired New York state-based Penski Staffing. In 2015, Cortech acquired Richmond, Va.-based Partnership Staffing; Wisconsin-based Integrated Staffing; Job Express of Wyoming, which operates as JEX Staffing; the assets of Integrated Staffing; and Southern California-based RecruitPro Inc.
info@cor-tech.net
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 admin/clerical, professional services, IT and industrial 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. In December, it acquired the assets of Resources4Staffing, an industrial and clerical staffing business based in the Southern California city of West Covina. In September, it acquired MSI International, a 48-year-old recruiting firm also based in Atlanta, and in June it acquired New York state-based Penski Staffing. In 2015, Cortech acquired Richmond, Va.-based Partnership Staffing; Wisconsin-based Integrated Staffing; Job Express of Wyoming, which operates as JEX Staffing; the assets of Integrated Staffing; and Southern California-based RecruitPro Inc.
info@cor-tech.net