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Outsourcing specialist Staffline Group (STAF:LSE) reported on Monday that it has acquired Select Appointments Limited, a staffing company providing office and administration staff across the UK.
The strategic deal will enhance the firm’s presence in the white collar staffing market. Metrics of the deal were not revealed, but the acquisition is funded from Staffline’s existing bank facility.
The firm will continue to trade under its Select and Parkhouse brands, operating through a network of over 30 franchise offices, a number Staffline wants to triple in the coming three years. Parkhouse specialises in warehousing, driving, production, technical, engineering, facilities maintenance and professional recruitment services.
Staffline said the acquisition will be earnings neutral in the first full year of ownership and earnings enhancing thereafter.
The news follows the announcement on Thursday 25 October that Randstad had disposed of this part of its UK staffing business. The Select brand was originally created in 1983 by entrepreneurs, Robert Klapp and Romney Rawes and had been part of Vedior since 1999 before being acquired by Randstad in 2008. The non-franchised portion of Select remains part of Randstad’s commercial network in the UK having been rebranded as Randstad in 2008.
Recent acquisitions have helped Staffline increase half-year revenue by +36% to £163.9 million. This comes after the recruiter has expanded its driving division by buying driving specialists Go New Recruitment Limited last month and DKM Driving Limited in August.
Staffline specialises in outsourcing personnel to the industrial sector and, prior to the acquisition, was the 16th largest staffing provider in the UK. The firm has a strong focus on the blue collar sectors, supplying up to 25,000 blue collar workers every day.