ZeroChaos Acquires FlexCorp Systems
Combined Companies Create Top 50 Enterprise in Staffing Industry; Expand Fortune 1000 Customer Reach in Contingent Labor Solutions
Orlando, FL & New York, NY - ZeroChaos, a leader in helping Fortune 1000 companies find, manage and optimize their contract labor workforce, today announced that it has acquired FlexCorp Systems, a New York City-based provider of strategic contractor payrolling and staffing solutions to large companies. The terms of the deal were not disclosed. This transaction creates the most significant and capable solution in the market to aid companies in managing the rapidly changing demographics in today's workforce.
"In the next four years, nearly 40% of the professional workforce will become retirement eligible, said ZeroChaos CEO Harold Mills. "For large corporations, this aging workforce is creating significant workforce planning concerns. For the employees, the definition of retirement no longer includes fishing or golfing full-time. Companies need the talent and the employees want to work, albeit on their own terms."
The combined ZeroChaos and FlexCorp Systems solutions will enable companies to connect alumni with their specific talent needs and proactively manage their co-employment, ERISA, and other risks.
The acquisition represents the combination of two of the fastest-growing private companies in the U.S. – ZeroChaos was recently ranked #71 on the 2005 Inc. 500 list, and FlexCorp ranked # 119. By adding FlexCorp's strategic payrolling and staffing technology solutions into its portfolio, ZeroChaos strengthens its market leadership position in providing innovative staffing solutions - adding 20 Fortune 500 customers, $80 million in revenues and increasing its headcount to over 4,000 employees. FlexCorp Systems will continue to operate in New York, as "A ZeroChaos Company." Additionally, this transaction creates one of the largest, most financially stable diversity-owned suppliers in the industry.
The FlexCorp Systems founders, Irene Cohen and Rick Miners, will remain in New York and specifically focus on helping companies develop their "alumni talent pools", about which the two have authored many articles and books, including Don't Retire, Re-Wire, a three year business best seller, coauthored by Rick Miners and Jeri Sedlar.
In addition to complimentary product suites, ZeroChaos and FlexCorp Systems share a "full disclosure" pricing philosophy. This unique open book accounting practice offers customers total pricing transparency so that customers know exactly where all of their costs come from. This philosophy has pulled back the curtain on exactly how staffing companies make money and in turn has generated significant costs savings for customers.
"We are excited about the acquisition – it's great to have found a company that shares our "full-disclosure" pricing philosophy and values the way it helps customers in the contingent workforce market," said ZeroChaos CEO Harold Mills. "Furthermore, FlexCorp founders Irene Cohen and Rick Miners are true industry pioneers, and the success of their company is testament to their innovative thinking. We look forward to what lies ahead for ZeroChaos and FlexCorp."
"ZeroChaos is the best possible partner for us in the staffing industry," said Irene Cohen, CEO of FlexCorp Systems. "They are truly changing the way that large companies source and manage their contingent workforce and are addressing the changing demographics of today's labor market. We're very happy to be a key part of their continued growth."
SOURCE: ZeroChaos