Fedcap and Wildcat Announce Merger
NEW YORK, June 8, 2011 /PRNewswire-USNewswire/ -- The nonprofits Fedcap Rehabilitation Services, Inc. (http://www.fedcap.org) and Wildcat Service Corp. (http://wildcatnyc.org) today announced their agreement to merge operations.
"As tough as the job market gets, it is always tougher for people with barriers. Unemployment is now 9.1 percent for the general population, but 12.1 percent for veterans of Iraq and Afghanistan, and 15.6 percent among people with disabilities," said Christine McMahon, President and CEO of Fedcap, who will lead the combined organization. "Today's economy and job market require nimble and sophisticated organizations that can make the most of scarce resources to help people who have difficulty getting jobs even in the best of times."
Fedcap, a 75-year-old nonprofit, and Wildcat, founded in 1972, provide job opportunities and resources for people with barriers to become economically independent. Both agencies are based in New York City.
Fedcap develops employment opportunities for vulnerable, under-employed populations such as children aging out of foster care, people with disabilities, and veterans returning from Iraq and Afghanistan. Fedcap programs encompass career tracks in facilities management, manufacturing, office skills, data entry/digital imaging, mailroom and messenger services, hospitality and culinary arts.
Wildcat is renowned for pioneering work with ex-offenders, disconnected youth, public assistance recipients and unemployed individuals throughout New York City, and for such innovations as the Wall Street Private/Public Partnership and the Neighborhood Improvement Program. Wildcat was among the first U.S. organizations to adopt transitional employment as a fundamental workforce development strategy.
"Together we will offer a wider range of programs, career tracks and job opportunities to the people we serve and will be able to reach many more," said Peter G. Samuels, Wildcat Chair. "This combination demonstrates strategic vision and good business sense, and sets an example in the non-profit world with the benefits that will be gained, lessons that will be learned and innovations that will be achieved."
The combined entity will have operations in excess of $90 million and serve more than 9,000 people annually in more than 80 locations across New York City, throughout New Jersey, and in Washington, DC. Current Fedcap and Wildcat operations will continue under their own names and brands for the immediate future. The two agencies expect to combine operations effective July 1, 2011, and complete a full merger by Oct. 1, 2011.
"Fedcap and Wildcat are an excellent fit in mission and in action, with complementary strengths in workforce development and common histories of forging cross-sector partnerships to build job opportunities and drive economic development," said Mark O'Donoghue, Chair of Fedcap's Board of Directors.
Fedcap, among the country's largest preferred-source bidders for AbilityOne, NYSID and ACCSES NJ set-aside contracts, owns and actively expands competitive businesses expressly to employ people with barriers, and works with many public- and private-sector partners to foster additional job opportunities and economic development.
"Wildcat's combination with Fedcap means more opportunities and brighter futures for the structurally unemployed," said Mary Ellen Boyd, Wildcat President, who announced her retirement in January but will continue to provide support throughout the transition. "Our customers will see even better outcomes as we join Fedcap's extensive book of business and training expertise together with Wildcat's proven, business-driven job placement operations and innovative workforce development strategies."
About Wildcat: Wildcat provides job opportunities and resources for New Yorkers to become economically independent. Since our pioneering founding in 1972, Wildcat has helped hundreds of thousands of unemployed and underemployed New Yorkers find jobs, build careers, and receive the training and guidance necessary to compete in the New York economy. For many of our customers, the right opportunity or second chance can mean everything.
About Fedcap: Through careful research and strategic partnerships with community leaders, elected officials, fellow nonprofits, government agencies and commercial businesses, Fedcap develops employment opportunities for vulnerable, under-employed populations; provides the technical and soft-skills training and continuing support to make these jobs sustainable, and transforms the lives of individuals, families and communities. Employers from GEICO to Restaurant Associates to the U.S. Department of Defense directly employ Fedcap workers or utilize our Socially Responsible Outsourcing™ to fulfill the services they need for operational excellence. For more information, visit www.fedcap.org. Follow Fedcap on Facebook (http://www.Facebook.com/fedcap) and Twitter (http://Twitter.com/#!/FedcapNYC).
Fedcap is a 501(c)(3) non-profit organization.
Barbara Rosen, VP, Communications, Fedcap, 212-727-4260, BRosen@fedcap.org
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