Empresaria Group PLC
15 May 2007
Dutch acquisition moves Empresaria into sixteenth country
May 15, 2007: The AIM-quoted staffing and recruitment group Empresaria has
continued its international expansion by taking a majority stake in the Dutch
specialist staffing group EAR Holding BV.
The deal moves Empresaria into Holland for the first time and takes to 16 the
number of countries in which the group is now present, across Europe, Asia,
Australia and North America.
To acquire a 60% stake in EAR, Empresaria has agreed to pay â.¬500,000 to existing
shareholders plus â.¬200,000 in working capital through the issue of new EAR
shares. The â.¬500,000 paid to existing shareholders includes approximately
â.¬100,000 in new Empresaria shares.
In line with previous Empresaria acquisitions, the 40% balance of the shares
remains held by the EAR management team.
Empresaria Chief Executive Miles Hunt said: 'This investment in EAR gives us a
key stake in a growing specialist staffing company operating in a number of
market segments. The Dutch staffing market that has been seeing recovery in
recent years and the acquisition reflects the Empresaria strategy of creating an
international staffing group balanced both by geography and sector.'
EAR provides specialist staffing services, mainly in temporary recruitment,
under a range of established brand names that include E & A Technische
Uitzenddiensten, De Uitzendschilder, and De Uitzendkappe, focusing particularly
on construction trades such as electricians, plumbers and painters.
Empresaria last month announced an adjusted pre-tax profit increase of 30% to
Â£2.89 million on sales up 40% to Â£75.5 million for the year to December 2006. It
said it is now positioned to continue growing its operations rapidly across the
In March, the group was named International Business of the Year in the 2007
Fast Growth Business Awards.
For further information contact:
Miles Hunt, Chief Executive, Empresaria Group plc: 01293 649 903
Nick Hall-Palmer, Group Finance Director, Empresaria Group plc: 01293 649 906
Allan Piper, First City Financial Public Relations: 020 7242 2666
James Wellesley Wesley, Bridgewell Limited: 020 7003 3000
This information is provided by RNS
The company news service from the London Stock Exchange