Add-on Acquisition • Staffing

Monster Acquires System One

On April 1, 2000, Monster acquired staffing company System One from ABS Capital Partners

Acquisition Context
  • This is Monster’s 1st transaction in the Staffing sector.
  • This is Monster’s 1st transaction in the United States.
  • This is Monster’s 1st transaction in Pennsylvania.
Investment Fate
  • System One was divested to a consortium of buyers in 2010.
  • System One was sold to a consortium of financial buyers in 2013.
  • System One was sold to a consortium of financial buyers in 2016.
  • System One was sold to a consortium of financial buyers in 2020.

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M&A Deal Summary

Date April 1, 2000
Target System One
Sector Staffing
Buyer(s) Monster
Sellers(s) ABS Capital Partners
Deal Type Add-on Acquisition

Target Company

System One

Pittsburgh, Pennsylvania, United States
System One is a provider of managed staffing and technical outsourcing solutions to improve productivity, specializing in the energy, engineering, information technology, commercial and scientific sectors. System One is the sixth largest engineering staffing companies and the forty-second largest staffing company overall in the U.S. System One is based in Pittsburgh, Pennsylvania.
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Buyer Overview 1

Buyer

Monster

Weston, Massachusetts, United States

Category Company
Founded 1967
Sector Internet Software and Services
Employees3,700
Revenue 667M USD (2015)
DESCRIPTION
Monster's corporate headquarters in Weston, Massachusetts.
Monster's corporate headquarters in Weston, Massachusetts.

Monster is a global online employment solution provider. Monster works by connecting employers with quality job seekers at all levels and by providing personalized career advice to consumers globally. Monster was formed in 1967 and is based in Weston, Massachusetts.


Deal Context for Buyer #
Overall 1 of 8
Sector: Staffing 1 of 4
Type: Add-on Acquisition 1 of 6
State: Pennsylvania 1 of 1
Country: United States 1 of 6
Year: 2000 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-23 Jobpilot

Bad Homburg, Germany

Jobpilot is an online recruitment company with online operations in 14 European countries.

Buy €88M

Seller Profile 1

SELLER

ABS Capital Partners

Hunt Valley, Maryland, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1990
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ABS Capital Partners is a private equity firm that invests in later-stage growth companies in the healthcare, technology, business services, media and communications sectors. ABS provides capital to help fund growth, provide shareholder liquidity, pursue acquisitions, or to effect a management buyout. The Firm prefers US based business and will consider both majority and minority positions. ABS looks to commit $10 to $25 million per transaction. ABS Capital was formed in 1990 and has offices in Baltimore, Maryland; Waltham, Massachusetts; and San Francisco, California.


Deal Context for Seller #
Overall 9 of 72
Sector: Staffing 1 of 1
Type: Add-on Acquisition 2 of 35
State: Pennsylvania 1 of 3
Country: United States 9 of 71
Year: 2000 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-02-18 Omnicell

Fort Worth, Texas, United States

Omnicell is a supplier of comprehensive automation and business analytics software for patient-centric medication and supply management across the entire health care continuum—from the acute care hospital setting to post-acute skilled nursing and long-term care facilities to the home. Omnicell was founded in 1992 and is based in Fort Worth, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-04-19 YOUcentric

Charlotte, North Carolina, United States

YOUcentric is a leading supplier of eBusiness Relationship Management software. YOUcentric software allows businesses to manage information and interactions among customers, sales partners, employees and suppliers in real time using the Web-from a desktop, cell phone, palm device or pager. The Company’s open, Java-based application allows them to employ the principles of mass-customization in order to provide tailored solutions in a faster, more cost-effective way than could otherwise be achieved through a traditional software approach.

Buy -