15 December 2014
Empresaria Group plc ("Empresaria" or the "Group")
Acquisition of majority interest in Ball and Hoolahan
The consideration of up to £1.5 million comprises an initial cash payment of £1.0 million, with an earn-out up to a maximum value of £0.5 million, contingent on the performance of Ball and Hoolahan for the financial year ended 31 March 2015. In the year ended 31 March 2014, Ball and Hoolahan generated revenue of £1.8 million. The acquisition is expected to be immediately earnings accretive. Ball and Hoolahan's Managing Director, Roy Hoolahan, retains a 25% interest in the business and will continue to manage the business going forward.
Joost Kreulen, CEO of Empresaria said:
"I am delighted that Ball and Hoolahan, a well-established business that has an unrivalled reputation within the marketing recruitment sector, has joined the Group. This investment is in line with our ongoing strategy of developing leading brands within the sectors in which we operate. We believe there is a great opportunity to replicate their success in the UK within our network both in the UK and overseas."