Spencer Reed Group sells temporary staffing division
07/29/2014 8:54 AM
07/29/2014 3:32 PM
Overland Park-based Spencer Reed Group LLC on Tuesday announced the sale of its temporary commercial staffing division to an Indiana company.
Financial terms of the sale of Spencer Reed’s Encore Staffing Services division to Elwood Staffing of Columbus, Ind., were not disclosed.
Encore has 12 branches, including six in the Kansas City area. Encore’s 37 full-time employees, including 15 locally, have been retained by Elwood Staffing.
Encore’s offices will be rebranded under the Elwood Staffing name over the next 90 days.
“Encore’s light-industrial specialization is Elwood’s bread and butter, so this is a natural fit that strengthens our presence in new and existing markets,” Mark Elwood, chief executive of Elwood Staffing, said in a statement.
This is Elwood’s second acquisition in 18 months. The company acquired a national staffing firm in February 2013, which doubled its employment and service territory.
Elwood now has about 1,000 employees and 250 offices in 31 states and Canada. Elwood said its annual revenue is about $900 million.
Spencer Reed launched the Encore division in 1994.
With the sale, Spencer Reed said it will focus on expanding its professional job placement business. It specializes in direct hiring and contract work in engineering, accounting, information technology, and legal and business services.
“I believe our strategy should be to get laser-focused on growing our professional and technical staffing specialties in the niches we are already in (and) getting deeper in those markets,” Bill Solon, Spencer Reed’s president and chief executive, said in a statement.
The company’s professional and technical staffing services are handled out of its offices in Overland Park; Long Beach, Calif.; and Raleigh, N.C. Combined, there are 42 full-time employees, including 30 at its headquarters.
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