| Nationwide Staffing, Inc. | |||
| Proposed Ticker: | STF | 600 Travis, Suite 6200 | |
| Exchange: | New York Stock Exchange | Houston, TX 77002 | |
| Industry: | Service (SIC Code 7363) | (713) 223-7742 | |
| Type of Shares: | Common Shares | Filing Date: | 9/12/97 | |
| U.S. Shares Filed: | 3,800,000 | Filing Range: | $11.75 - $13.75 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $48,450,000 | |
| Primary Shares: | 3,800,000 | Expenses: | $4,000,000 | |
| Secondary Shares: | 0 | Shares Out After: | 8,671,433 |
| Manager | Tier | Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 371-0641 |
| Ladenburg, Thalmann & Co. Inc. | Co-manager | (212) 409-2300 |
| Legg Mason Wood Walker, Inc. | Co-manager | (410) 539-4038 |
| Issuer's Law Firm: | Bracewell & Patterson |
| Bank's Law Firm: | Fulbright & Jaworski |
| Auditor: | Arthur Andersen |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 6/30/97 | 6/30/96 | 6/30/97 | ||
| Revenue: | $133.77 | $77.26 | $60.50 | Assets: | $65.78 |
| Net Income: | $2.39 | $1.88 | $1.06 | Curr Assets: | |
| EPS: | $0.31 | $0.25 | $0.14 | Liabilities: | $37.62 |
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | Equity: | $28.15 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | Working Cap: | $1.32 | |||
| Business Description |
| The company was organized to become a leading national provider of comprehensive staffing solutions to businesses, professional and service organizations and governmental agencies. The company provides professional, skilled industrial and commercial employees to over 2,200 clients in a wide variety of industires, including aerospace, petrochemicals, petroleum refining, insurance, food processing, legal and high technology, and to the government sector. The company believes that as businesses increasingly outsource a wider range of human resource functions in order to focus on their core operations, they will require more sophisticated and diverse services from their staffing providers. In order to serve these needs, the company offers significantly braoder services than those provided by traditional staffing companies. In addition to supplying temporary workers for short-term needs, the company also provides extended-term temporary employees, staff leasing or PEO services, temporary-to-permanent placements, recruiting, permanent placements, payroll processing, vendor-on premises and human resource consulting. |
| Business Plan |
| The company plans to achieve its objective of becoming a leading national provider of comprehensive staffing solutions through the implementation of a cohesive business strategy consisting of the following elements: (I) Offer a Diversified Range of Staffing Services, (ii) Continue to Develop Niche Markets, (iii) Continue to Develop Long-Term Client Relationships, (iv) Increase Operating Efficiencies and (v) Focus on Internal Growth Opportunities. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to pay the cash portion of the acquisition price, the payment of debt assumed through the acquisitions, working capital and for general corporate purposes. |
| Officer Name | Title | Age |
| Larry E. Darst | Chairman of the Board, President, Chief Executive Officer and Director | 46 |
| Stephen M. Alter | Chief Executive Officer of Alternative Solutions, Director | 58 |
| Quincy T. Freeman | Chief Executive Officer of Cardinal, Director | 59 |
| Brenda S. Douban | President of ASAP, Director | 47 |
| Lovey L. Hammel | President of Employment Enterprises, Director | 38 |
| Mary E. Evins | President of Evins Group, Director | 66 |
| Paul L. Milligan | President of GTS, Director | 43 |
| Gary D. Pitts | President of HP Services, Director | 40 |
| Richard L. Bronson | President of Technology Plus, Director | 52 |
| Dean G. Walberg | Senior Vice President -- Operations | 58 |
| Gary J. Petry | Senior Vice President and Chief Financial Officer | 48 |