Specialist recruitment and outsourcing firm Servoca (SVCA: LSE) has acquired Kent-based education recruitment firm Classic Education Limited for a total of £3.1 million.

The initial consideration for Classic Education is £ 1.2 million and Servoca will pay deferred consideration of up to £1.9 million, subject to Classic Education meeting certain profit targets for the two years following acquisition.

Servoca intends to fund the deal from existing cash and debt facilities. It expects the acquisition to be earnings enhancing in fiscal 2017 with minimal impact in the current year.

"We are delighted that Classic Education is now part of Servoca,” Andy Church, CEO of Servoca, said. “This acquisition complements our existing branch network in education and gives us a local presence in the Kent and South London market, an area with significant demand for education recruitment services. The acquisition of a long-established local provider in this area increases our national branch network coverage. In total we now have 15 UK locations and one overseas office. We look forward to working with the staff and management that have helped build the business into one of the leading providers in the area."