Career Horizons acquires Mini-Systems Associates.WOODBURY, N.Y.--(BUSINESS WIRE)--Dec. 21, 1995--Career Horizons, Inc. (Nasdaq:CARH CARH Council for Affordable and Rural Housing CARH Coalition for Affordable and Reliable Health Care CARH Community Assistance for the Retarded and Handicapped ) today announced that it has signed a definitive agreement to acquire Mini-Systems Associates, a provider of information technology and engineering professionals for supplemental staffing and permanent placement. The purchase price was $28.5 million, plus a contingency amount based upon Mini-Systems' future operating results over a three-year period. A privately-held company, Mini-Systems generates annual revenues of approximately $50 million. The acquisition is expected to close following regulatory approvals. Mini-Systems supplies professionals for a wide variety of computer- and engineering-related technical disciplines to a broad mix of clients. Based in Culver City, California Culver City is a city in western Los Angeles County, California. As of the 2000 census, the city had a population of 38,816. The community is mostly surrounded by the city of Los Angeles but also has a border with unincorporated areas of Los Angeles County. , Mini-Systems has strategically placed offices in five locations in California (Irvine, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , San Jose San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Santa Barbara Santa Barbara (săn'tə bär`brə, –bərə), city (1990 pop. 85,571), seat of Santa Barbara co., S Calif., on the Pacific Ocean; inc. 1850. and San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. ) in addition to Phoenix, Portland and Seattle. The offices are connected by a comprehensive, proprietary database and search and retrieval system which contributes to Mini-Systems' competitiveness and efficiency. Together with Professionals For Computing, based in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden and acquired in August 1995, Career Horizons will have a broad presence in the large information technology staffing markets on the West Coast. These offices will be linked with Computer Consulting Group, also acquired in August 1995, which serves the southeastern United States. Clients of each of these offices will benefit from the expanded network. "Mini-Systems is an excellent strategic fit with Career Horizons," said Walter W. Macauley, president and chief executive officer of Career Horizons. "It expands our specialty staffing capability, which is a corporate priority, and will contribute positively to our earnings." Macauley continued, "Mini-Systems brings a new business to Career Horizons, professional engineering staffing, our third specialty niche and one in which we see growth opportunities. In addition, Mini-Systems' executive recruitment and permanent placement capability for professionals, a business we consider attractive and complementary to supplemental staffing, adds to an area we have targeted for growth." Career Horizons is a national provider of general and specialty supplemental and health care personnel with 458 Company-owned, franchised and private label offices operating under recognized local and regional brand names in 42 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . CONTACT: Career Horizons, Inc. Michael T. Druckman, 516/682-1403 or Lundy Associates Michael A. Lundy, 201/660-1100 |
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