Empresaria Group plc acquired a 60% interest in Grupo Solimano, which provides outsourced and temporary staffing services in Peru. The company aims to increase its presence in the Latin American market with the deal; UK-based Empresaria already has operations in Chile and Mexico.

Total consideration is expected to be approximately £2.1 million (US$2.8 million), including an initial cash payment of £1.35 million (US$1.79 million), a payment of approximately £550,000 (US$662,164) to be paid by September, and £200,000 (US$264,866) contingent on the final results for the full-year 2018.

Grupo Solimano generated revenue of £14.9 million (US$20.1 million) for 2017.

Rocco Solimano, managing director of Grupo Solimano, is retaining a 40% interest in the business and will continue to manage the operations going forward. Solimano is the current chairman of the board of the Peruvian Association of Good Employers and director of the Association of Outsourcing and Temporary Employment Companies.

Empresaria Group plc has 19 brands operating in 21 countries worldwide, including the US.