Tuesday, September 21, 1999
NEW YORK, September 21, 1999 -- Right Management Consultants, Inc. (NASDAQ: RMCI) announced that it has entered into an agreement to acquire Mainstream Access Corporation, a career transition consulting firm with offices in 11 cities across Canada, pending completion of definitive agreements. The deal is expected to be effective on or about September 1, 1999. Terms were not disclosed.
The firm began in 1987 as the Canadian affiliate of U.S.-based Mainstream Access, Inc. In 1989, the Canadian principals, J. A. Warner Woodley and the late Rosemarie Sanderson-Kirby, purchased the Canadian operation from its parent company and renamed it Mainstream Access Corporation. The company is a leader in its industry, obtaining contracts with many of Canada's largest corporations.
Mr. Woodley will remain as a key member of Right Management's Canadian management team, working closely with Canadian Executive Vice President Terry Szwec in Toronto.
Commenting on the agreement, Right Management's Chairman and CEO Richard J. Pinola said, "We're very pleased to be joining forces in Canada with Mainstream Access. They bring with them a long history of industry expertise and outstanding service to a distinguished list of major client companies. We're especially excited about some of the innovative approaches they have developed to service delivery, including their strategy on 'Restructuring without Destructing,' which is complementary to our recent research on mergers and acquisitions."
Warner added, "I'm excited that Mainstream Access Corporation has been acquired by Right Management Consultants. Their strategic direction and compatible values will provide for a very strong integrated Canadian operation."
Through its network of more than 170 service locations, Right Management Consultants, Inc. develops and delivers a wide range of career services and organizational consulting services worldwide.