24th Aug 2007 13:35
Berkeley Scott Group Plc24 August 2007 24 August 2007 Berkeley Scott Group plc to acquire Quantica plc 1st Acquisition moves Berkeley Scott into professional services sector Berkeley Scott Group Plc ("the Group" or "the Company" or "Berkeley Scott"), amarket-leading provider of human resource services to the hospitality andleisure sectors, announces a recommended offer for the entire issued sharecapital of Quantica plc, for a total equity value of £28.3m based on an offerprice of 47.5 pence per share in a cash deal, with an equity alternative. The AIM listed Berkeley Scott group has a market cap of £11.1m and Quantica£26.7m, as of 23 August. As a result this deal represents a reverse takeover byBerkeley Scott and will produce a group of niche recruitment companies which areall expert in their respective fields. Quantica is a renowned recruitment group focussed on the provision of permanentand contract recruitment services for the professional services markets. Thecompany also includes the RK group which was acquired by Quantica in 2005. Themain markets served by Quantica include finance, technology, supply chainmanagement, manufacturing, retail, legal, sales and marketing, HR and privateequity. The Board of Quantica have agreed to remain in their roles for the duration ofthe acquisition of the Company, after this the combined group will be led byJohn Rose, Chief Executive Officer of Berkeley Scott Group. John joined BerkeleyScott in May 2007 from Hudson UK and Ireland where he had been CEO since 2004.John was recruited to Berkeley Scott to lead the envisioned enlarged group ofconsolidated recruitment companies. Commenting, Tony Reeves and John Bowmer, Co-Chairmen of Berkeley Scott Groupsaid, "When we acquired a controlling stake in Berkeley Scott in January thisyear we stated our intention to lead a consolidation strategy within therecruitment sector, which we continue to see as vastly fragmented with strongpotential for value extraction. "Quantica is a leading name in professional services recruitment and we haveconsidered it an excellent acquisition target for some time. Quantica has anoutstanding management team who we look forward to working with, and it is acompany where we see greatest growth potential across the sector. We seesignificant synergies in acquiring this company and it is highly scalable. Thisis the beginning of an exciting new phase of growth for Berkeley Scott and allthe employees of the enlarged group". Enquiries:Berkeley Scott Group PlcAnthony Reeves, Co Chairman 01483 414141John Rose, Chief Executive Officer Brunswick Group LLPJames Hogan / Helen Barnes / Charlotte Kenyon 020 7404 5959 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Kellan Group