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Hexagon Human Capital plc completes Winchester Group Acquisition

Hexagon Human Capital plc completes Winchester Group Acquisition

Further to the announcement released on 10 September 2008 which outlined the details of the signed heads of terms for the acquisition of the Winchester Group, Hexagon Human Capital plc, the UKs leading provider of senior Interim Managers and a leading Executive Search company, is pleased to announce the completion of the acquisition, for an initial consideration of $1.25m and a maximum additional consideration of $4.7m subject to future performance.

Winchester is an Atlanta based executive search firm with a strong reputation in identifying US based senior level professionals for a wide range of UK companies. It produced $3.4m NFI & $0.7m normalised EBIT in the year to 31 December 2007. The acquisition is a significant step for the Group, expanding the business internationally and delivering the highest quality of long term senior and board level assignments. The acquisition complements the Groups senior and board level Executive Search subsidiary, Oxygen Executive Search Ltd and the American business will trade as Oxygen Executive Search Inc, led by its principals, Charlie Chalk and Dave Gallagher.

Jonathan Wright, Chief Executive of Hexagon Human Capital plc, said:
We are delighted that the acquisition of Winchester has been completed. The acquisition is a milestone for the Group, further strengthening our client base and enhancing our ability to offer the highest levels of leadership talent domestically and internationally.

We would like to welcome Charlie, Dave and the whole team to the Group and look forward to working with our new colleagues to mirror the strong growth we have achieved at Hexagon and continue to deliver industry leading expertise across the enlarged Group.

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