Advertisement

Staffline Group announces acquition of GB Resourcing

UK recruitment organisation Staffline Group has announced the acquisition of the trade and assets of GB Resourcing.

UK recruitment organisation Staffline Group has announced the acquisition of the trade and assets of GB Resourcing.

GB Resourcing, a temporary recruitment provider based in Birmingham, has been offering its services throughout the Midlands since it was formed in 1999.

Staffline - which specialises in recruitment in food processing, manufacturing, e-retail, driving and logistics - said the procurement of GB Resourcing is in line with the company's existing business strategy in targeting selective bolt-on acquisitions operating in relevant fields to expand their customer base and increase revenue.

Advertisement - Article continues below

Staffline's Onsite business will have two new food Onsites and a branch in Birmingham following the purchase.

"The acquisition of GB Resourcing strengthens the foothold in the Midlands area as well as broadening our expertise to provide high quality staffing services across a variety of sectors," Chief Executive of Staffline, Andy Hogarth, said in a statement Wednesday.

"We look forward to working with GB Resourcing and continue to pursue further bolt-on acquisition opportunities."

The group's existing bank facility is funding the acquisition and it will be earnings neutral in the first full year of ownership.

Staffline supplies to 30,000 blue collar workers each day and operates from more than 200 locations in the UK. Its shares were up up 0.71% at 282.50p Wednesday.

RD

Advertisement
Advertisement

Recommended

Visit/investments/investment-strategy/601044/broker-safety-your-questions-answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Visit/economy/inflation/601584/the-end-of-the-bond-bull-market-and-the-return-of-inflation
Inflation

The end of the bond bull market and the return of inflation

Central bank stimulus, surging post-lockdown demand and the end of the 40-year bond bull market. It all points to inflation, says John Stepek. Here’s …
30 Jun 2020
Visit/investments/commodities/gold/601587/bullish-gold-price-cup-and-handle-chart-pattern
Gold

This chart pattern could be extraordinarily bullish for gold

The mother of all patterns is developing in the gold charts, says Dominic Frisby. And if everything plays out well, gold could hit a price that invest…
1 Jul 2020
Visit/economy/global-economy/601579/how-pent-up-demand-could-drive-a-v-shaped-economic-recovery
Global Economy

How “pent-up demand” could drive a V-shaped economic recovery

“Pent-up demand” is usually a myth. But not this time. The Covid lockdown has created genuine pent-up demand, says Merryn Somerset Webb. That’s now be…
29 Jun 2020