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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8 - K
CURRENT REPORT
Current Report Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 15, 1996
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C.H. Heist Corp.
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(Exact name of registrant as specified in charter)
New York 0-7907 16-0803301
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
810 North Belcher Road, Clearwater, Florida 34625
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (813) 461-5656
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(Former name or former address, if changed since last report)
Total Number of Pages: 44
Exhibit Index: 3
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Item 2: Acquisition or Disposition of Assets
On September 15, 1996, Ablest Service Corp. ("Ablest") a wholly owned
subsidiary of C.H. Heist Corp. ("Company"), purchased certain assets, primarily
customer and employee lists, from Tech Resource, Inc. ("Tech Resource") a
Georgia Corporation, and its shareholder. The terms of the transaction also
provided that the selling shareholder not compete with Ablest for a period of
three years beginning with his termination of employment at Ablest. The
aggregate purchase price was $1,500,000, of which $1,000,000 was in cash and
$500,000 in the form of a one year promissory note. The source of the funds
used by Ablest was $1,000,000 from it operating cash account. The amount of the
purchase price was determined through negotiations and is expected to be
assigned primarily to the estimated fair value of the intangible assets
acquired.
Tech Resource is engaged in a staffing service business concentrating
in the Computer and Information Technology areas located in Atlanta, Georgia.
Ablest intends to continue operating Tech Resource as an integral part of its
own business.
(2)
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Item 7: Financial Statements, Pro Forma Information and Exhibits
(a), (b) Separate, audited financial statements and pro forma statements
for Tech Resource are not required, as Tech Resource does not
qualify as a significant subsidiary to the Company as defined
in Article 1.02 of Regulation S-X.
(c) Exhibit Pages
Ex-1 Asset Purchase Agreement between Ablest,
Tech Resource and Britt D. Ehrhardt dated
September 15, 1996. A1-A30
Ex-10.1 Promissory Note B1-B4
Ex-10.2 Employment Agreement C1-C4
Ex-10.3 Restrictive Agreement D1-D3
(3)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Dated: September 23, 1996
C. H. Heist Corp.
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(Registrant)
/s/ John L. Rowley
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John L. Rowley
Vice President-Finance
(Chief Financial and
Accounting Officer)
(4)