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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported): . . . . . . December 23, 1996
STAFFMARK, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-20971 71-0788538
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
302 East Millsap Road
Fayetteville, Arkansas 72703
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: . . . . . . . (501) 973-6000
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Item 5. Other Events
On December 23, 1996, StaffMark, Inc. (the "Company") completed the
acquisition of all of the outstanding capital stock of Tom Bain Personnel,
Inc., a Tennessee corporation ("Tom Bain"), through its wholly-owned
subsidiary, HRA, Inc., a Tennessee corporation. Tom Bain provides clerical
staffing services in the Brentwood suburb of Nashville, Tennessee.
Item 7. Financial Statements and Exhibits
(c) Exhibits. The following exhibits are filed with this Form 8-K:
99 Press Release dated December 24, 1996.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
STAFFMARK, INC.
(Registrant)
Date: January 6, 1997 By: /s/Clete T. Brewer
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Clete T. Brewer
Chief Executive Officer
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EXHIBIT INDEX
99 Press Release dated December 24, 1996.
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EXHIBIT 99
NEWS RELEASE
Contacts: Clete T. Brewer
President & CEO
(501) 973-6018
Terry Bellora, CFO
(501) 973-6084
STAFFMARK, INC. ACQUIRES TOM BAIN PERSONNEL, INC.
FAYETTEVILLE, ARKANSAS (December 24, 1996) - StaffMark, Inc. (Nasdaq/NM:
STAF), a diversified personnel staffing company, announced today that it has
completed the acquisition of Tom Bain Personnel, Inc., a clerical staffing
company in the Brentwood suburb of Nashville, Tennessee. Tom Bain Personnel
will be accounted for as a stock purchase, and the Company expects this
acquisition to have a positive impact on 1997 EPS. The unaudited revenues for
Tom Bain Personnel for fiscal 1996 are expected to be approximately $3.5
million. Terms of the transaction were not announced.
"Tom Bain Personnel is an excellent acquisition for StaffMark for
several reasons," stated Clete T. Brewer, president and chief executive officer
of StaffMark. "Because Tom Bain Personnel is primarily clerical and technical,
it will support our efforts to increase our clerical mix of business. Clerical
placements bring a higher margin which increases our overall profitability and
shraeholder value. Also, Tom Bain Personnel will be a perfect fit for the
expansion of our specialty medical staffing niche since its primary business is
with the hospitals and other healthcare facilities in the area. Because it is
geographically situated in the Nashville area, the administrative functions can
be assumed by our Tennessee regional headquarters. It will be a vital addition
to our central Tennessee region."
"Tom has extensive experience not only in the staffing industry as an
owner, but also in the human resources profession. He was formerly the human
resources vice president with HCA (now Columbia/HCA) and Vanderbilt University.
Tom will continue to work with StaffMark in a managerial role, and his
expertise in human resources will be an invaluable asset to our Tennssee
operations," concluded Brewer.
StaffMark, Inc. is a provider of diversified staffing services to
businesses, medical niches, professional and service organizations, and
governmental agencies, primarily in growth markets in the southeastern and
southwestern United States. The Company operates 95 branches located in
Arkansas, Colorado, Georgia, Missouri, North Carolina, Oklahoma, South
Carolina, Tennessee, and Virginia.
This release contains forward-looking statements which involve risk and
uncertainties with respect to growth opportunities and their impact on 1997
earnings. The Company's actual results could differ materially from the
results anticipated in these forward-looking statements as a result of loss of
existing customers, loss of key management, unexpected costs, or operational
problems and those certain risk factors set forth under "Risk Factors" and
elsewhere in the Company's Prospectus dated September 26, 1996, made under the
the Securities and Exchange Act of 1934.
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