Australia-based workforce management company People Infrastructure announced that it has entered into an agreement to acquire Australia-based SwingShift Nurses.

Swingshift Nurses was established in 2000 and is a nursing agency focused on mental health.

According to People Infrastructure, it is a contracted preferred supplier to most public sector hospitals in Victoria.

The acquisition price for the business is AUD 3.1 million (USD 2.4 million) payable in cash on completion and will be funded by People Infrastructure’s existing cash reserves. It is expected that the acquisition will be completed in the following weeks, subject to satisfaction of sale conditions.

The acquisition is expected to be earnings per share accretive.

People Infrastructure expects the business to generate AUD 1 million (USD 0.7 million) in EBITDA in the 12 months following completion.

On December 2020, the group announced that it had entered into a binding agreement to acquire eCareer Employment Services Pty Ltd and Illuminate Search and Consulting Pty Ltd. It completed the acquisition in January 2021.

On 12 February 2021, the assets of ECT4Health Pty Ltd were acquired. The purpose of the acquisition is to utilise the training operations to refer nurses for placement in rural and remote assignments.

Last month, People Infrastructure reported revenue of AUD 200.9 million (USD 160.7 million) for the six months ended 31 December 2020, an increase of 3.1% when compared to the previous year.