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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 18, 1996
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PERSONNEL GROUP OF AMERICA, INC.
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(Exact Name of Registrant as Specified in its Charter)
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<S> <C> <C>
Delaware 001-13956 56-1930691
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(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
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6302 Fairview Road, Suite 201
Charlotte, North Carolina 28210
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(Address of Principal Executive Offices)
(Zip Code)
(704) 442-5100
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former name or address, if changed from last report)
This filing contains 6 pages.
The exhibit index appears on page 4.
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Item 5. Other Events.
Personnel Group of America, Inc. ("PGA") issued a press release on
June 18, 1996 announcing the closing of its acquisition of Computer Resources
Group, Inc. ("CRG") (a copy of which is attached as Exhibit 99), and the
information set forth in such press release is incorporated herein by
reference. Information relating to the CRG acquisition has been previously
reported in PGA's registration statement on Form S-1 (Reg. No. 333-04573).
Item 7. Financial Statements and Exhibits.
The following financial statements, pro forma financial information
and exhibits are filed as part of this report.
(b) Pro forma financial information.
Unaudited Pro Forma Balance Sheet as of March 31, 1996 and
notes thereto and unaudited Pro Forma Statements of Income for the year ended
December 31, 1995 and the three-month period ended March 31, 1996 and notes
thereto (in each case such pro forma financial statements being incorporated by
reference from the "Unaudited Pro Forma Financial Statements" section (pp. F-34
to F-40) of the registrant's Registration Statement on Form S-1 (Reg. No. 333-
04573))
(c) Exhibits
Exhibit 99 -- Press release dated June 18, 1996
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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.
Date: July 1, 1996
PERSONNEL GROUP OF AMERICA, INC.
By: /s/EDWARD P. DRUDGE, JR.
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Edward P. Drudge, Jr.
Chairman of the Board and
Chief Executive Officer
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INDEX TO FINANCIAL STATEMENTS AND EXHIBITS
Documents filed under Item 7 Page No.
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(c) Exhibit 99 -- Press release dated June 18, 1996 6
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(c)EXHIBIT 99
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NEWS RELEASE
FOR IMMEDIATE RELEASE Contact: Mr. Edward P. Drudge, Jr.
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Chief Executive Officer
PERSONNEL GROUP OF AMERICA, INC.
ACQUIRES COMPUTER RESOURCES GROUP
CHARLOTTE, NC (June 18, 1996) - Personnel Group of America, Inc. (NYSE:PGA), a
diversified personnel staffing services company headquartered in Charlotte,
today announced that it has completed the previously announced acquisition of
Computer Resources Group, a leader in information technology staffing in the
San Francisco and Silicon Valley markets. Terms of the transaction were not
disclosed.
"Information technology staffing is an extremely high-growth industry and
has been a priority for us for some time. With the acquisition of Computer
Resources Group, we gain a strong presence in the San Francisco Bay area and an
important entry into this exploding field," said Edward P. Drudge, Jr.,
chairman and chief executive officer of PGA.
Computer Resources is headquartered in San Francisco and had revenues for
calendar year 1995 of approximately $25 million. The company was founded in
1972; and today has offices in San Francisco, Sacramento, Silicon Valley and
Salt Lake City, providing a full spectrum of information technology staffing
services, including software engineering, systems design and development,
network administration, and technical publication development, to a broad base
of companies.
"In keeping with our acquisition strategy, the company will continue to
operate under its name, and the current management team will stay intact,"
Drudge said. "Richard Green, the founder, and his senior management team have
created a very profitable organization with a leading market position; and we
will work together to expand its position in the information technology
staffing industry."
Personnel Group of America, Inc. is a diversified personnel staffing
company with 1995 annual revenues in excess of $251 million. The company is
comprised of 172 company-owned, franchised and licensed offices in 33 states
and the District of Columbia. PGA is organized into three divisions; Staffing
Services, Health Care Services and Information Technology Staffing.
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