Brookfield-based QPS Employment Group, an employment services firm, has acquired Cambridge TEMPositions Inc., a recruiting firm based in Cedar Rapids, Iowa.
QPS took over all three of Cambridge’s locations, which are located in Cedar Rapids, Davenport and Iowa City. The company was acquired from owner Mike Cambridge. With the new offices, QPS currently has 14 branches in Iowa.
The associate employees of Cambridge Staffing who are currently working on assignment at local companies will be retained and moved to QPS’ payroll. The company’s name will not be retained, as the operations and internal staff will be folded into QPS’ business.
With the acquisition, QPS expects to increase its revenue by 50 percent in the state of Iowa.
“This acquisition strengthens our presence and commitment in Iowa,” said Dan McNulty, QPS’ chief operating officer. “We are further growing our network and are continuing to develop into the Midwest.”
This is QPS’ eighth acquisition since 2006 and the third of 2012. Financial terms of the transaction are not disclosed.
