Staffline Group announces acquition 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.

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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