A Virginia-based staffing company that specializes in providing workers in the marine, commercial and industrial sectors has acquired two similar firms based in Indiana.
NSC Technologies purchased Logansport-based ULG Cos., which maintains 14 offices across the country, and Kokomo-based Staffing Resources Inc., which has six locations in central Indiana.
Both acquisitions closed on April 26, and the terms of the deals were not disclosed.The companies will retain their current identities and branding.
NSC is a portfolio company of Miami-Florida-based private investment firm White Wolf Capital, which focuses on management buyouts, recapitalizations and investments in leading middle-market companies.
“The value-add of the ULG acquisition is highly compelling. With this acquisition, NSC will expand its Midwest presence while further consolidating its dominant presence in the maritime/naval shipbuilding and repair industries,” said Richard Leggio, a vice president of White Wolf, in a media release.
Longtime Indianapolis banking and staffing executive Gary Hentschel became CEO of ULG in July 2015.
“We are extremely excited about our new partnership with NSC Technologies and White Wolf Capital,” Hentschel said in a media release. “Together we will have the critical mass and leadership talent to compete even more aggressively on a national basis in the industrial staffing market, as well as provide an enhanced suite of products for our clients and improved resources and benefits for our team.”
Hentschel will remain with the firm during a transition period but will step down within four to six months, Leggio told IBJ.
Staffing Resources operates offices in Frankfort, Kokomo, Lafayette, Lebanon, Logansport and Wabash.
“I believe that together with NSC, our team will have more opportunities to grow and provide a broader platform of services and skill-sets to our business partners,” SRI President Chris Gremelspacher said in a media release.
Gremelspacher will remain with SRI. The two companies have 65 employees between them, and no layoffs are planned, Leggio said.