Select Staffing Continues National Expansion

Select Staffing Continues National Expansion With Addition of Resolve Staffing Assets

Select Staffing(SM) announced that their parent company, Koosharem Corporation, has agreed to acquire certain assets of Cincinnati, Ohio-based Resolve Staffing, Inc. Select Staffing(SM) is a top-10 national staffing industry leader and the commercial division brand of Santa Barbara, California-based Select Family of Staffing Companies. The deal is expected to close on Friday, February 8, 2008, subject to satisfaction of applicable closing conditions. The transaction is expected to boost Select's annual sales to $1.6 billion while serving more than 10,000 customers in 35 states from over 300 offices.

Acquisitions have become a big part of our growth strategy, and Resolve will give us opportunities in temporary staffing as well as an entree into the PEO business," said Paul Sorensen, President of The Select Family of Staffing Companies. "Resolve has a solid base of quality clients and great strength in several niche markets, making this an excellent acquisition opportunity. In acquiring the Resolve assets, we will combine our strengths and unite our proficiencies, thereby increasing tremendously our ability to provide our customers with national solutions."

The transaction is structured as a purchase of assets from Resolve's senior lender pursuant to Article 9 of the Uniform Commercial Code. Although Select Staffing(SM) is purchasing only specified assets and is not assuming any of Resolve's liabilities, Select Staffing(SM) intends to service Resolve's customer base and replicate the same PEO and staffing functions previously provided by Resolve. Select Staffing(SM) is committed to exceeding the high level of service that Resolve has historically provided to its customers.