CDI AndersElite, a UK-based subsidiary of US staffing firm CDI Corp, yesterday announced that it has acquired the trades and assets of Ship Shape Resources' recruitment business. Ship Shape will retain its payroll solutions business.  

The acquisition is expected to be immediately accretive to earnings but not material to the company’s financial performance.

Simon Trippick, Vice President of CDI International and Managing Director of CDI AndersElite, commented: “We have a long and well-established reputation for providing construction, civil engineering, and rail sectors with high quality recruitment services. The addition of Ship Shape’s six-person recruitment team, client relationships, and contractor database will enhance our expertise in the construction market.”

Howard Hughes, CEO of Ship Shape Resources, added: "CDI AndersElite is the right partner for our recruitment organisation. This transaction ensures a smooth transition for our clients and contractors as we increase our focus on our core payroll activities and technology consulting services to the recruitment and construction industries." 

Following the announcement, CDI Corp’s share price closed up 3.4% yesterday at USD 9.08, a decrease of 36.6% compared with a year ago. Based on its current share price, the company has a market value of USD 178.8 million.

Financial details of the acquisition were not disclosed.

Earlier this week, parent company CDI Corp announced that it had acquired US IT staffing firm EdgeRock Technologies. The Boston-headquartered firm was acquired for approximately USD 31 million in cash. 

Correction: This article incorrectly stated that CDI AndersElite had acquired Ship Shape Resources' payroll business.