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Humanis To Merge With Total Staffing

Humanis To Merge With Total Staffing

International recruitment firm Total Staffing Solutions is set to merge with blue collar recruitment company Humanis Group, which owns Westaff, in a deal worth up to $9.24 million to create a mid tier Australiasian labour hire provider.The consideration for the acquisition is $9.24 million payable to Humanis shareholders via the issue of 1.778 new Total Staffing shares for every one Total Staffing share on issue subject to shareholder, board and regulatory approval.On completion of the merger, Humanis shareholders will collectively hold about 64% of all issued shares in Total Staffing on a fully diluted basis.Humanis posted an unaudited revenue of approximately $109 million in FY2009 following its acquisition of one of the largest blue collar labour hire providers in Australia and New Zealand in 2008, Westaff Australia and Westaff New Zealand.
Westaff CEO Jeff Jones told RI that he already has set his sights on establishing the company in the UK.

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