The transaction was announced as an all-cash buyout for an undisclosed sum with an effective date of November 15th, 2010. The two companies agreed to delay official release of the acquisition until all active customers were notified. Andrew Hoffmann, HSG’s president and CEO, joined Kelser as VP of operations and will oversee a number of strategic initiatives including reshaping the company’s marketing department. In a recent statement, Mr. Hoffmann indicated, “Kelser has been one of our core clients for some time, this acquisition presents a great opportunity for us to expand on that relationship and ensure we meet future goals. Members of our organization are excited to be part of a company with such a rich history and eye on the future.”
Prior to the acquisition, HSG worked closely with Kelser in developing a business strategy aimed at guiding the company’s growth for the next three to five years. According to Kelser president Barry Kelly,”HSG staff played an integral role in improving our overall efficiency and developing a comprehensive sales and marketing plan for 2011, it soon became evident that an acquisition was more cost-effective than continuing an outsourced relationship with the firm.”