Corporate Resource Services Acquires Tri-
Overload Staffing Inc.
Acquisition Further Diversifies Business into the Insurance Industry
September 01, 2010 05:23 PM Eastern Daylight Time
NEW YORK--(EON: Enhanced Online News)--Corporate Resource Services, Inc. (OTC: CRRS), a national
provider of temporary and permanent staffing services, announced today that it has acquired Tri-Overload Staffing
Inc. from an affiliate of Tri-State Employment Services, Inc. Tri-Overload Staffing, now known as Insurance
Overload Services, Inc., is in the business of providing temporary and permanent employment staffing services and
related support services principally to the insurance industry. The purchase price was approximately $6.2 million
which was paid through the issuance of approximately 8,590,000 shares of the Company's common stock.
Tri-Overload Staffing had sales of approximately $20 million for the nine-month period ending March 31, 2010. The
company has over 20 offices throughout the United States.
“With this transaction, CRS continues to build scale as well as diversify its offerings. We now have a growing
presence in the insurance industry, as well as in the light industrial and clerical industries,” said Jay Schecter, CEO of
Corporate Resource Services. “With the completion of this acquisition and the addition of Insurance Overload
Services to our group, we have added, based on current levels of business, over $100 million of annualized revenues
to the company’s operations since April of this year, when we acquired certain assets of GT Systems. This is an
important step for the Company and we plan to continue aggressively our growth through additional acquisitions as
well as organically.”
Tri State Employment Services is the Company’s largest stockholder. Robert Cassera, the President and controlling
stockholder of Tri-State, commented: “This transaction furthers our goal at Tri-State to focus our efforts on
providing PEO services to our client base, while enabling CRS to increase its brea