STAFFLINE, the blue-collar recruitment agency, revealed today it has acquired staffing services firm Select Appointments for an undisclosed sum.
The AIM-listed company, which specialises in food, manufacturing and retail industry placements, has been on the lookout for further acquisitions to expand into the white-collar market.
Select, which runs 31 franchises in the UK, is made up of two arms – one which places office workers in the hospitality sector and the other which specialises in warehousing, engineering professional recruitment services.
“The acquisition of Select Appointments is an exciting strategic step for Staffline as we seek to further broaden our operational reach,” Andy Hogarth, Staffline chief executive said.
“Its established franchise network will provide a stable footing for the group as we seek to expand our services into the white collar staffing market,” he added.
The acquisition is being funded out of an existing bank facility and will be earnings neutral for the first year, Staffline said.
It plans to triple the number of Select franchises in the UK over the next three years.
Staffline, which runs the government’s welfare-to-work programme in three regions, posted flat profits of £2.8m in 2012.