Business
Acquisition of Kiddy & Partners
Acquisition of Kiddy & Partners.
About this update from Gateley (holdings) Plc
[{"type":"text","content":"\n \nRNS Number : 9687T Gateley (Holdings) PLC 09 July 2018 \n\n\n\n\n\n \n\n\n 9 July 2018\n\n\n\n\n \nGateley (Holdings) Plc\n \n('Gateley' or the 'Company' or the 'Group')\n \n Acquisition of Kiddy & Partners \n \nGateley (Holdings) Plc (AIM:GTLY), the law-led professional services group, is pleased to announce the acquisition of Kiddy & Partners (\"Kiddy\"). \n \nKiddy is a leading firm of Human Capital consultants specialising in assessment, talent management and leadership development. From its London base, the business partners with leading organisations in the UK and operates internationally in 25 cities across five continents. Kiddy's client list spans 80 of the FTSE Global 500 and 20 of the FTSE 100. \n \nKiddy will continue to trade under its existing name, with all staff relocating to Gateley's London office. Kiddy is a profitable and established business. In the year ended 31 December 2017 Kiddy generated pro forma revenues from continuing operations of £2,420,000 and operating profit of £213,000. The Board expects the acquisition to be immediately earnings enhancing.\n \nBackground to Kiddy & Partners\nEstablished in 1972, Kiddy is a leader in its field delivering a comprehensive set of Human Capital consultancy services to businesses looking to improve the performance of their leaders and senior managers. Services include Assessment & Talent Management - executive assessment for Boards considering change, assessment of high-potential senior executives for development, management team due diligence and post-M&A management assessment; and Leadership Development - designing and delivering bespoke programmes to enable senior leaders to adapt and be successful in the context of their strategy and changing operating environment. \n \nTerms of the acquisition\nUnder the terms of the acquisition, Gateley will acquire the business and assets of Kiddy & Partners LLP into a new 100% subsidiary of the Company. The initial consideration payable on completion will be approximately £850,000 settled 50% in cash and 50% by the issuance of 251,207 Ordinary Shares of 10 pence each in Gateley ('Ordinary Shares'). Deferred consideration of...