Staffline Group Plc Acquires Select Appointments Ltd
Staffline Group, the national outsourcing organisation providing people and operational expertise to industry, today announces the acquisition of Select Appointments Limited ('Select'), a long established specialist staffing services business providing office and administration staff across the UK. The business will continue to trade under the Select and Parkhouse brands and will continue to operate through a network of franchisees.
Select have been in operation in the UK since the 1980s, providing high quality and personal staffing services to clients and candidates fulfilling office administration roles. With a network of 31 franchise offices throughout the UK Select is recognised as a leading brand for national staffing services.
The acquisition includes 'Select Hospitality', a specialist recruiter in hospitality events and 'Parkhouse' which specialise in all areas of warehousing, driving, production, technical, engineering, facilities maintenance and professional recruitment services.
The acquisition will be earnings neutral in the first full year of ownership and earnings enhancing thereafter. Select is being funded from the Groups existing bank facility.
Staffline will be pursuing an aggressive expansion programme and has targeted tripling the number of Select franchises over the next three years, in order to further establish the brand nationwide.
Andy Hogarth, Chief Executive of Staffline commented:
"The acquisition of Select Appointments is an exciting strategic step for Staffline as we seek to further broaden our operational reach. Not only is the Select brand instantly recognisable but its established franchise network will provide a stable footing for the Group as we seek to expand our services into the white collar staffing market.
"Today's announcement is a natural evolution for our business as we aim to replicate our success in the blue collar recruitment market. Our recent expansion into the Welfare to Work arena coupled with today's announcement is a clear indication of our ambitions to further grow the business and continue to enhance shareholder value."