NCES
A friend of mine sent me the following story on NCES.
I do not have a url for this. But it is posted on the
Raging bull board.
NCES Acquires Large Chicago-based PEO
NovaCare Employee Services also announced the acquisition of Unified
Management Corporation, Inc. Unified is one of the largest privately held
PEOs in the U.S. with revenues of approximately $400 million for the 12 months
ended December 31, 1998. Unified manages approximately 18,500 worksite
employees for 567 small- and mid-sized clients in the Midwest and New England,
through principal offices in Chicago and Providence, Rhode Island.
NovaCare Employee Services stated that the transaction would be accretive
to earnings. Additional terms of the transaction were not disclosed.
"The acquisition of Unified provides NovaCare Employee Services with a
significant PEO presence in the Midwest and extends our presence in the
Northeast," said Mr. Hulber. "In addition, the acquisition increases the size
of our third-party business by more than 50 percent to approximately
$1.4 billion in annualized revenues. With the acquisition of Unified, we now
manage approximately 66,400 worksite employees for more than 4,500 third-party
clients."
NovaCare Employee Services continues to evaluate strategic alternatives,
including the sale of the company.
NovaCare Employee Services, Inc. is a premier professional employer
organization. The company is an employee services company that provides
small- to medium-sized businesses with comprehensive, fully integrated
outsourcing solutions to human resource needs, including payroll management,
risk management, benefits procurement and management, unemployment insurance
services and human resource consulting services. The company manages
approximately 66,400 worksite employees for more than 4,500 clients in 46
states. |
