Human Capital Resources plc Completion of Acquisition
Human Capital Resources plc (the Company or HCR) Completion of Acquisition
HCR confirms that today that it executed an agreement with the administrators of Kinsey Allen International Limited (in administration) (KAI), a recruitment company operating
across a range of markets, to acquire the following assets (the Agreement):
(i) KAIs interim/contractor book and
(ii) KAIs contractors database.
The total consideration for the acquisition was 1,000, although it is also agreed that any fees generated by HCR from KAs interim/contractor book will be split with the administrators in accordance with the terms of the Agreement.
In addition, HCR also acquired from the administrators of KAI the database, work in progress and associated assets of KAIs subsidiary, RUSTON wheb Limited (RWL), which operated
in the cleantech recruitment space. The consideration for these additional assets was 10,500 and, again, it is agreed that any fees generated by HCR from RWLs work in progress will be split with the administrators in accordance with the terms of the Agreement.
Commenting on the acquisition Mike Brennan, Group Chief Executive Officer of HCR said Although these acquisitions are relatively small, we are optimistic as to the additional
opportunities we will generate from acquiring Kinsey Allens contractor book and the assets of its subsidiary, especially as RUSTON wheb operated in the same sector as one of our divisions, Climate Human Capital.