UK staffing firm Impellam Group confirmed that the company is in discussions with Netherlands-based HeadFirst Global in relation to a possible offer by HeadFirst for the entire issued and to be issued ordinary share capital of the company.

HeadFirst is the 100% owner of Beryllium BV, which is the shareholder of HeadFirst Group (HFS:AS), an international HR services platform offering a variety of HR-solutions, including MSP-services and business consultancy.  Headquartered in the Netherlands, HeadFirst achieved €1,953 million in gross invoice value and €25 million in EBITDA in 2022.

Impellam’s board notes that there can be no certainty that any firm offer will be made nor as to the terms on which any offer may be made or that the terms of any such offer would be acceptable to the company's majority shareholder.

The board also notes that the company is already in an 'offer period' in accordance with rule 2.4 of the city code on takeovers and mergers as a result of its announcement on 12 April 2022.

In April 2023, Lord Michael Ashcroft, who owns 62% of shares in the company, asked to open discussions with the board regarding options for the sale.

At the time, Ashcroft said, ““This decision to exit is part of my restructuring of assets to focus on my philanthropic and other activities. I wanted to make this move around two years ago but felt that it had to wait until the easing of Covid. I am 76 and that time is now.”

Impellam at the time stated, “The sale of Lord Ashcroft’s shares to a single acquirer, or multiple parties acting in concert, would trigger the requirement for a mandatory offer under Rule 9 of the code for the remaining issued and to be issued ordinary shares in Impellam, except with the consent of the Takeover Panel.”

Impellam ranks as the 19^thLargest Staffing Firm Globally. In April 2023, Impellam Group announced its audited final results for the year ended 30 December 2022 with revenue rising by 10.1% on a like-for-like basis to £2.53 billion, a record high revenue.

On Tuesday, Impellam Group shares closed at £685.00, no change on the day and 9.27% below its 52-week high of £755.00, set on 13 March 2023. The company has a market cap of £307.91 million.