JobSource and The Reserves Network have completed their merger, creating a national workforce services organization combining JobSource’s technology and diversified services with The Reserves Network’s branch network and staffing operations. Financial terms of the transaction were not disclosed.
The combination brings together two founder-built staffing companies with more than 70 years of combined operating history.
JobSource was founded in 1994 by Gabriel Garcia and grew from a Southern California staffing business into a broader workforce services company.
Its capabilities now include temporary staffing, managed service programs, vendor management solutions, executive search, staff augmentation and human resources services.
The Reserves Network was founded in 1984 in Fairview Park, Ohio, by Air Force veteran and pilot Don Stallard.
The company has grown to more than 40 locations across the Midwest, Northeast, Southeast and Southwest and places nearly 20,000 employees annually.
The combined company will provide services across the employment lifecycle, including high-volume temporary staffing, temp-to-hire and direct placement, on-site workforce management, executive search, HR consulting, managed service programs, vendor management systems, healthcare staffing and government workforce programs.
The organization is targeting a benchmark of filling 10 positions in 10 minutes through proprietary systems intended to automate repeatable components of staffing while maintaining human involvement in hiring decisions.
The combined platform also brings together larger candidate networks, centralized reporting, consolidated invoicing, workforce analytics, risk management, workers’ compensation, legal and regulatory compliance and cybersecurity infrastructure.
The companies plan to maintain their specialized brands and local relationships while sharing centralized infrastructure.
JobSource will serve as the parent company and shared-services organization.
Its operating businesses will include JobSource North America, JSMSP, Alero, CingularHR, Team1Medical Staffing and The Reserves Network Government Services.
Alero, the executive search, professional recruitment and staff augmentation business, will be led by Chris Carlson as President.
Catalur Capital Management served as the funding partner for the transaction.
The New York-based investment manager provides financing for lower-middle-market companies across areas including M&A, debt refinancing and asset-based lending.
The combined organization plans to use Catalur’s support to integrate its operations, continue investing in proprietary workforce technology and pursue additional organic growth and acquisitions.
KEY QUOTES:
“This merger just makes sense; the differences between our companies really complement each other. We are building a national workforce platform that reinvents how staffing and employment services get delivered. That means proprietary systems doing the repeatable work so our teams spend their time where it actually matters, which is in front of the people we serve. Our customers should feel that difference in how quickly we respond and how much we understand about their business.”
Gabriel Garcia, CEO of JobSource
“This is the juice to drive growth. We have a goal of becoming a billion-dollar company in the next four years, and we will get there the same way we always have, by growing our footprint organically and through continued strategic acquisitions. At the end of the day this is still a people company. Scale only matters if our customers get something out of it, and that is the standard we are holding ourselves to.”
Neil Stallard of The Reserves Network
