Kelly Services (Nasdaq: KELYA, KELYB) today announced the acquisition of Insight, an education service staffing company with experience in partnering with school districts in Illinois, Massachusetts, New Jersey and Pennsylvania. The acquisition further expands Kelly's leadership position in the education workforce solutions industry, where Kelly Education is ranked the top provider across the U.S., filling nearly four million PreK-12 classrooms every school year. Terms of the acquisition were not disclosed. Insight, headquartered in Cherry Hill, New Jersey, with its current staff will merge with Kelly Education.
“The acquisition of Insight demonstrates how Kelly is investing its capital towards being a specialty talent company and a leader in the education market,” said Peter Quigley, President and Chief Executive Officer, Kelly Services: “Insight has the geographic and service footprint to complement Kelly Education’s current reach. Their commitment to putting students first and delivering service excellence aligns perfectly with Kelly's culture and priorities."
“When we think about what’s next in the education specialty business, we see the teacher shortage continuing, thus increasing the need to connect vital talent to great public, private, charter schools and early child care centers, so all children have a learning environment where they will thrive," said Nicola Soares, Senior Vice President of Kelly Education: “Insight provides great innovative solutions and shares our commitment to moving education forward. Together, we can supply quality talent, enhancing the impact of full-time teachers, and supporting higher student achievement both in and beyond the classroom.”
Andrew Walter, Chief Executive Officer of Insight, remarked, “Kelly Education understands the real impact of the teacher shortage on students and the far-reaching consequences for schools and their communities. We are excited to leverage the power of Kelly’s resources and share their mission in helping schools improve operationally."
Fairmount Partners, a leading middle-market investment bank serving the needs of Consulting and Technology Services clients, served as the exclusive financial advisor to Insight throughout the transaction. Dick Thatcher, Managing Director at Fairmount Partners, noted, “We are thrilled to have worked with Andrew Walter, Joe Kelley, and the entire Insight team to find them a partner in Kelly Services aligned with supporting Insight’s long-term growth ambitions. Andrew Brown, Director with Fairmount Partners, commented, “The combination of Insight and Kelly Education creates a clear market leader. We at Fairmount are humbled to have played a part in bringing these two organizations together and wish both Insight and Kelly continued success bringing innovative solutions to the education market going forward.”
Blank Rome provided legal advice to Insight.
About Fairmount Partners
Fairmount Partners is an independent merger and acquisition advisory firm focused on emerging growth and middle market companies. Fairmount helps its clients complete mergers and acquisitions;raise funds for growth, acquisitions and liquidity; and design and improve their corporate development strategies. Fairmount’s clients include successful entrepreneurs, private equity-sponsored enterprises, and global public companies. Since 2003, Fairmount has completed more than 220 transactions, representing over $10 billion in aggregate value, in 20 countries throughout North and South America, Europe, Asia and Australia. Further information is available at www.fairmountpartners.com.
Contact: Dick Thatcher (dick.thatcher@fairmountpartners.com) and Andy Brown (andrew.brown@fairmountpartners.com)
Founded in 2013, Insight is a leading provider of substitute teachers and paraprofessionals, serving a diverse base of school district clients as a trusted partner across four states. Led by a team of industry veterans, Insight developed a team of education experts alongside data-driven processes required to become one of the fastest growing providers in education staffing. Visit www.workwithinsight.com for more information.
About Kelly Education
Launched in 1997, Kelly Education is the first and largest provider of educational staffing in the United States. Innovated from its parent company Kelly Services® (Nasdaq: KELYA, KELYB), a global workforce solution that’s always asking ‘what’s next?’ in the world of work, Kelly Education offers schools unparalleled experience, value and expertise while carrying out its mission to provide end-to-end educational staffing solutions. Visit www.kellyeducationalstaffing.com for more information.
