Business
Acquisition of Grafton's Ireland businesses
Acquisition of Grafton's Ireland businesses.
About this update from Staffline Group Plc
[{"type":"text","content":"\n \nRNS Number : 3634V Staffline Group PLC 20 July 2018 \n\nFor immediate release 20 July 2018\n \n \n \nSTAFFLINE GROUP PLC\n(\"Staffline\")\n \nAcquisition of Grafton Recruitment's Ireland businesses (\"Grafton\")\n \nStaffline, the Recruitment and Training group, announces today that it has completed the acquisition of two subsidiaries of Grafton Recruitment Ireland Holdings Limited, Grafton Recruitment Limited (Northern Ireland) and Grafton Recruitment Limited (Republic of Ireland), together \"Grafton\". Grafton is a leading provider of recruitment and employment services in both Northern Ireland and the Republic of Ireland, with over 30 years of experience. Based on the latest publicly available audited annual accounts to 31 March 2017, annual turnover of the two companies combined is £74m, pre-tax profit is £0.7m and net assets total £2.5m.\n \nThe acquisition supports Staffline's strategic goal to build and develop the largest, most reliable workforce across the UK and Ireland. The addition of Grafton to Staffline's Ireland division will significantly increase the Group's scale and presence in the Irish market. Following this acquisition, Staffline will be the clear market leader in Northern Ireland and the second largest recruitment business across the island of Ireland. Tina McKenzie, Staffline's Group Managing Director in Ireland, will take responsibility for the Grafton business, in addition to overseeing Staffline's existing businesses across the island.\n \nThe acquisition is being funded out of Staffline's existing resources.\n \nChris Pullen, Chief Executive Officer of Staffline, commented:\n \n\"We are delighted to announce this stra...