Carpathia Invests in Dallas-Based Staffing and Placement Firm
Expansion into Texas the Latest Move from Fast-Growing Consulting and Staffing Company
WEST CHESTER, PA - (January 9, 2007) – Carpathia Corporation, the fastest growing provider of accounting consulting, staff augmentation and permanent placement in the country, announced today its acquisition of Dallas-based Financial Additions, Inc. The move bolsters Carpathia’s rapidly expanding national footprint by offering entry into the high-growth Texas marketplace and filling a key geographical niche between the company’s Northeast and West Coast bases of operations.
“Bringing the highly successful team of professionals at Financial Additions into the Carpathia family offers us the ideal platform to expand our service lines into Texas,” said Carpathia CEO Rob Wilson. “We continue to achieve our long-term strategic growth goals by identifying partners in desirable markets with service lines that align with our core offerings and enable us to bring our combined client base an unparalleled level of accounting, finance and internal audit capabilities.”
Financial Additions was founded in 1999 by Doug Hall to assist clients with identifying ideal candidates for permanent, temporary or contract-based financial jobs. The company has successfully placed thousands of professionals with numerous companies in the Dallas/Fort Worth area, including Nokia, Archon Group, FedEx/Kinko’s, Merit Energy, and Cadbury Schweppes.
“We have found the perfect strategic partner in Carpathia Corporation, one that mirrors our core values of integrity, excellence, respect and productivity,” said Doug Hall, Managing Partner of Financial Additions. “Our enhanced business lines will enable us to offer our clients the same personal, locally-based service with the strength, expertise, and horsepower of a national firm.”
Financial Additions’ local senior management, including Hall and his partners Mike Haynes and Eric Foerster, will join Carpathia’s leadership team and continue to directly service clients. Hall will be Carpathia’s Managing Principal for the Dallas market.
About Carpathia Corporation
Carpathia Corporation is headquartered in West Chester, PA and has operations in California, Pennsylvania and Texas. Through its subsidiaries the company is one of the leading providers of accounting, internal audit and business advisory consulting services as well as specializing in search and staffing services for accounting and finance professionals. Carpathia's equity financing was led by the partners of CGP (Chicago Growth Partners) Fund VIII, Peppertree Capital, and the Private Equity Group of Goldman Sachs Asset Management. For more information visit:
www.carpathiacorporation.com.
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