Butler International, Inc. (fka BUTLQ)

[levelnever]

Select Staffing??

I just have really started digging on this one and working through the DD. That volume the other week definetly was intriguing. A number of different possibilities with this one from what I'm seeing so far.

Here's one thing to keep an eye on. This is from the PR where Butler America, LLC acquired all non-publishing assets from Butler International for $27,000,000 in cash.

Butler International, Inc. (PINKSHEETS: BUTL), a leading provider of Engineering Support and TechOutsourcing Services, announced today it has entered into a "stalking horse" asset purchase agreement with Butler America, LLC ("Butler America"), an affiliate of D. Stephen Sorensen, Chairman & Chief Executive Officer of Select Staffing, to sell substantially all of the assets of Butler International, Inc. and certain of its subsidiaries ("Butler") to Butler America.

So how does Butler America, fit in relation to Select Staffing? Well according to the wikipedia page, Butler America is actually underneath the Select Family of Staffing Companies.

http://en.wikipedia.org/wiki/The_Select_Family_of_Staffing_Companies

The company's major divisions include Select Staffing, TradeForce by Select Staffing (construction and trade staffing), Remedy Intelligent Staffing, RemX Financial Staffing, RemX IT Staffing, RemX OfficeStaff, RemX Search & Placement, RemX Engineering, RemX Scientific, Select Truckers Plus, Project Solvers (design), Westaff, Butler America, and Select Medical Staffing.

It is not currently listed on Select's website, but at the time of the transaction we know it was an affiliate of Select Staffing. So if a BUTLQ shell was one of assets acquired by Butler America, LLC it's certainly possible that it might actually belong to Select Staffing.

Why is that interesting? Select Staffing was looking to go public in 2009 to help with financing, but the deal fell through. Here are two PR's on that:

http://www.selectstaffing.com/selectstaffing/main.cfm?nlvl1=4&nlvl2=82&nlvl3=96&pg=
http://www.selectstaffing.com/selectstaffing/main.cfm?nlvl1=4&nlvl2=82&nlvl3=98&pg=

Either way, just starting digging here, but definetly some interesting things to note.