1st Sep 2015 07:47
LONDON (Alliance News) - Outsourcing and recruitment company Servoca PLC on Tuesday said it has agreed to acquire A+ Teachers Ltd for up to GBP2.1 million.
Servoca said it will pay GBP1.6 million in cash upfront and said the consideration could rise to GBP2.1 million based on A+ Teachers hitting profit targets in the next two years.
A+ Teachers is an education recruitment company based in Hertfordshire. The deal is expected to be earnings enhancing in the year to September 2016 and expands Servoca's education recruitment business into a region in which it has not previously had a presence.
"We are delighted that A+ Teachers is now part of Servoca. A+ Teachers fits well with our existing branch network in education and increases our supply into the Home Counties market," said Andy Church, Servoca's chief executive.
Shares in Servoca were up 4.4% to 24.00 pence on Tuesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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