General Employment Buys IT & Professional Staffing Company Paladin Consulting

(RTTNews) - General Employment Enterprises, Inc. (JOB), a provider of specialty staffing services and solutions, said it has acquired Dallas-based information technology and professional staffing company Paladin Consulting, Inc., effective January 1, 2016.

The company noted that the Paladin acquisition will add RPO, MSP & VMS support capabilities to enhance and broaden its service offerings. Further, the acquisition will increase General Employment's breadth and depth of IT service offerings and expand its geographic footprint into the robust Dallas market and across the nation in key cities.

General Employment expects the acquisition to be accretive to its earnings per share, generate solid earnings before interest, taxes, depreciation and amortization or EBITDA, and projects revenue in the range of $16 million to $18 million for calendar 2016.

Under the terms of the deal, General Employment acquired 100 percent of the Paladin common stock for consideration, including cash, stock, seller financing and contingent consideration.

The company, in combination with Paladin and the other completed acquisitions to date estimates that combined projected pro forma revenue for the calendar year 2016 is anticipated to reach or exceed about $90 million, more than double the reported revenue for the fiscal year ended September 30, 2015.