Valuations across the international recruitment sector fell in aggregate by 7.2% during the second quarter of 2016 due to new uncertainties over the global impact of the UK’s decision to exit the EU, according to a report from international M&A advisory boutique Boxington.

The report states that the Q2 fall means the recruitment index of companies is trading at a discount of 5% to the average of the Global benchmark indices (S&P500, DAX30, FTSE100, Nikkei225).

According to the report, during Q2, all recruitment sub-sector indices fell except for Online Recruitment, which achieved a 3.6% increase. Meanwhile, the permanent and executive search recruitment sub-sector indices were hardest hit, falling by 31.5% and 17.9% respectively. The report also states that M&A deal volumes and valuations were robust throughout the quarter, with a strong weighting towards cross-border strategic deals by US and European buyers.

The report also compiles M&A activity within the recruitment sector with the most significant deals during Q2 being the acquisition of Careo Group by Randstad and the Ciberacquisition by Manpower Group among others.

Boxington specialises in Human Capital services that attract, supply, develop and manage talent.The company has operations across UK, Europe, US and Asia Pacific and covers all models of recruitment and staffing.

For the full report, click here.