Addison Search Names Thomas B. Moran CEO

October 2011

CHICAGO – October 4, 2011 – Addison Search, a leading provider of professional staffingservices, announced today that Thomas B. Moran will be joining the company as Chief Executive Officer.

Mr. Moran has more than 23 years experience in the professional staffing industry and has held executive leadership positions at several of the industry’s leading firms. He served in various leadership roles at Robert Half International. He was responsible for directing and growing operations as the District President for one of the firm’s largest multi‐state territories. After Robert Half, Mr. Moran served as president and chief executive officer of Hudson Highland Group, Inc., Americas, where he built a management team that led the organization to record revenues and profits. Following his position at Hudson, Mr. Moran served as a chief executive officer partner for Frontenac Company, Inc., a private equity firm, evaluating potential staffing investments. Prior to joining Addison Search he was CEO of Mastech Holdings, Inc., a publicly traded VMS services business, where he introduced higher margin professional staffing offerings, grew revenue and drove margin expansion.

"With Tom’s experience and leadership, I believe that Addison Search is strongly positioned to be a leader in the professional staffing space.” – David Morgan, President

David Morgan, President of Addison Search said: “The Addison team has worked hard over the past two years to position the business to capitalize as market conditions improve. Our 2011 results attest to this. We believe there has never been more opportunity in our space and with Tom’s experience and leadership, I believe that Addison Search is strongly positioned to be a leader in the professional staffing space.”

“I am very excited about leading the team at Addison Search. I have worked with many strong companies and teams over my career, and believe that the strength of the Addison Search team, brand and offerings provides a tremendous platform to grow our business organically and thru strategic acquisitions. I look forward to partnering with Dave and the Addison leadership team to build on the great work of the past two years and execute on achieving our operational and financial goals.” said Tom Moran.

Addison Search grew over 15% organically in 2011 and recently completed an acquisition to enable its VMS staffing offering. With the addition of Mr. Moran, the company expects to accelerate its internal growth as well as pursue additional strategic acquisitions.

“We see a great opportunity to build a leading $300 million revenue provider of professional staffing services,” said Edward Kovas, board member of Addison Search and principal at Lake Capital, a Chicago‐based private equity firm. “We are very excited to have Tom onboard at Addison and look to continue the organic growth the company has generated this year, while also selectively pursuing acquisitions to add new geographies, strong talent and new service offerings.”

 
About Addison Search

Addison Search is a leading provider of professional staffing and permanent placement services for finance & accounting, information technology, financial operations, administrative, and nonclinical healthcare professionals. Addison operates out of [eight] offices in Boston, Chicago, Dallas, Houston and New York. Addison’s strength’s are its strong management and executive teams, a relationship‐focused selling strategy, a history with clients of delivering the right candidate at the right time, and a loyal candidate base.

Since Addison’s first full year of operations the company has grown significantly. As a result, Addison was recognized by Crain’s Chicago Business in 2007, 2008, and 2009 as one of the fastest growing Chicago‐based companies and by the Staffing Industry Report as one of the fastest growing staffing firms for 2006, 2007, 2008, and 2009. In 2010, Addison ranked 1276 on the Inc 500 list of fastest growing companies and 21st within the staffing industry. Based solely on client feedback, Addison made the Inavero’s 2011 Best of Staffing List for both Client and Candidates.