Daily News

View All News

HeadFirst gets new September deadline to make an offer for Impellam

01 September 2023

According to a regulatory filing, there's a new deadline for HeadFirst Global's proposed acquisition of Impellam Group. HeadFirst's new deadline will be 20th September 2023.

HeadFirst was scheduled to decide by 31st August whether to acquire the 19th-largest global staffing firm. The deadline had received previous extensions, and talks over a possible acquisition were first announced in July.

Impellam cautioned there can be no certainty an offer to acquire it will be made, nor that the terms of any possible offer would be acceptable to its majority shareholder.

The company reported earlier in August that revenue was up 9.1% on a constant currency basis for the first six months of this year.

Discussions over an acquisition follow several changes at the firm.

In April 2022, majority shareholder Lord Michael Ashcroft said he would sell his stake in the company. Following that, Impellam last year sold its Corestaff light industrial brand to Swipejobs Inc. in a $19 million deal. This year, Impellam announced the sale of its healthcare and specialist staffing businesses to Twenty20 Capital in a $102.2 million deal.