Working through their four wholly-owned subsidiaries, Corporate Resources Services (CRS) has evolved into a national provider of diversified staffing, recruiting and consulting services with their focus on light industrial services, the insurance industry and clerical and administrative support. Today, CRS took a major step towards prominence with the announcement they have acquired the assets of Integrated Consulting Group of New York, which also conducts business as Impact Staffing (ICGNY).
CRS acquired the assets of ICGNY through a newly formed, wholly owned subsidiary. The effective date for the acquisition was December 14 of this year and will allow CRS entry into a new $4.2 million secured credit facility and a $120,000 secured term loan facility.
ICGNY, which has offices in New York, New Jersey, Illinois and Pennsylvania, anticipates sales for 2010 will be in excess of $25 million. The acquiring subsidiary will conduct business under the name Impact Staffing.
One of the leaders at CRS is John P. Messina Sr. who serves as the company’s president. Giving his thoughts on the acquisition, Messina was quoted as saying, “We are very pleased to have the opportunity to expand our light industrial offerings through the acquisition of these assets and we look forward to continuing grow in this area and adding value to our stockholders.”
CRS is currently trading in the $0.95 range. With this breaking news and a strong corporate platform in place, Corporate Resource Services is a company that investors may want to keep on radar.
To learn more about CRS, visit the company website at www.crsreg.com
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