Dutch staffing firm AamigoO (AMS:AMIGO) has undergone further corporate changes after divesting some of its subsidiaries for €2 million. The firm has now announced plans to change its name, rebranding as Source Group NV after the annual general meeting in June.

A press statement on Monday detailed the recent reorganisation processes. The firm said it sold its Corso brand and other subsidiaries, with the sale bringing a “substantial” improvement to its balance sheet. The transaction was completed last weekend after shareholders agreed to the deal earlier this year.

“The Management Board and Supervisory Board of AamigoO Group are pleased that the process of selling Corso is successfully completed. Thus, the prospects of the company have significantly improved and a new chapter can start for the company, shareholders and other stakeholders,” the firm said.

The staffing company expects to see a rise in profits this year despite the restructuring processes projected to have a negative impact on profitability in the first half of 2013.

The firm specialises in placing self-employed, temporary staff and freelancers into sectors such as ICT, financial services and administration. In November last year, the company reported that gross sales in the first nine months of 2012 increased to €299.8 million from €106.4 million a year ago, helped by a recent acquisition.