Daily NewsView All News
Vedior NV said it acquired a 70% interest in Pareto Law PLC, a Wilmslow, England-based firm that specializes in the direct hire placement of university-level graduates in sales jobs in the United Kingdom. Terms of the deal were not announced.
Pareto had sales of GBP8.5 million (US$16.9 million) in the 12 months prior to Feb. 28.
"Pareto's well-respected services are complementary to our U.K. portfolio and, in addition, the company will provide us with a valuable source of high-caliber sales personnel to work within our own staffing business," said Vedior CEO Tex Gunning.
Pareto began in 1995. Its existing management team will remain with the company and keep a 30% stake. Pareto Law takes its name from Italian economist Vilfredo Pareto, who stated that 80% of Italy's wealth was owned by just 20% of the population. According to the company's Web site, Pareto Law believes that 80% of a company's business will be generated by 20% of its sales team.