D&Z's Yoh buys $100M Starpoint Solutions
Adds 850 in 12 cities, Russia and Ukraine
(Updated with Yoh comments) Day & Zimmerman's Yoh recruiting and outsourcing arm has purchased New York-based Starpoint Solutions, an 850-worker, $100 million-yearly sales technical-project temp and contingent staffing service, with offices in Philadelphia, Trevose and 10 other U.S. cities, and in Russia and the Ukraine. Price not disclosed.
"Starpoint is the first of a few" acquisitions Yoh hopes to add, to boost its "retail" business supplying tech hires and small-project staff, Yoh President Anthony Bosco told me. The company increased its "wholesale" outsourcing business with acquisitions before Bosco took the top job three years ago. Starpoint boss Jeff Najarian and Tammy Browning, who runs Yoh's retail side, will both report to Bosco.
Combined, the firms will employ 8,000, with 40 offices, including Yoh's U.K.-based European branch, with yearly sales over $700 million. At least two dozen competitors are larger, Bosco noted, including industry giants like Manpower and Kelly, leaving room for growth.
Adding Starpoint will help Yoh improve its cloud applications development, Enterprise Resource Planning, Software-as-a-Service and data analytics project management services sales, including to the financial sector, Bosco added.
Starpoint boss Najarian in his statement called Yoh a "world-class acquirer with a tight grasp of changing workforce dynamics." Starpoint was founded in 1982.
Past Starpoint clients include Cerner medical devices (formerly Siemens) in Malvern, where Starpoint helped implement SAP and Peoplesoft systems; SEI Investments in Oaks, where Starpoint built a tax system for the wealth-management software platform; Towers Perrin, where Starpoint helped install Oracle systems; and Fidelity Investments, Bank of Tokyo, hospitals, and others.
Yoh owner Day & Zimmerman, an engineering and staffing company with government, military and corporate clients and yearly sales of $2.7 billion, is owned by third-generation descendants of its founders, including chairman and CEO Harold L. Yoh III.