It was a fantastic price based on .26x of sales run rate and 1.8x GP runrate and around 12x operating income run rate. For the type of business staffmark is, this is a wonderful exit (the entry decision is a different matter!).
You can always count on our Japanese friends to over pay for an American business!
Slcehamrick, agree with you wholeheartedly. Have no idea why someone wanted to buy a staffing business at 12x+ ebit going into a recession. Staffmark didn't exactly fare that well the last time we went into recession with negative EBIT in '09. My opinion of CODI mgmt just went up a lot after this.