Raycomm Transworld Acquires Texas Company

Raycomm Transworld Industries, an Encino-based provider of temporary technical personnel, said it acquired Flex-Staff Inc., a Texas company that also provides temporary personnel and payroll services.

Raycomm bought privately held Flex-Staff for $400,000 and 25% of Flex-Staff’s annual gross profit over the next four years, according to a filing Raycomm made with the Securities and Exchange Commission.

In the six months that ended June 30, Flex-Staff had revenue of $10.9 million and net income of $134,000, according to the filing. With the addition of Flex-Staff, Raycomm said its annual revenue will surpass $100 million.