Calabasas based On Assignment, Inc. announced plans to acquire a clinical research staffing firm in western Europe, which would expand the company’s life science staffing business. On Assignment Inc., which specializes in placing professionals with specialty skills in science, healthcare, information technology and engineering, said it has entered into a letter of intent and exclusivity agreement to acquire the European firm that is projected to have 2010 revenues of $24 million and $4 million in adjusted EBITDA. “This company has margins that are consistent with our life science staffing business, long term assignments and high bill rates; it should be nicely accretive to our earnings,” stated Peter Dameris, president and chief executive officer of On Assignment, Inc. On Assignment would acquire the firm for approximately $17 million. The company hopes to close the transaction, which is still subject to final approvals, in the next 45 days. On Assignment Inc. had 2009 revenues of $420 million.
On Assignment Inc. to Acquire European Staffing Firm
