hot group Plc, the AIM listed recruitment specialist, has today announced they have acquired The Buzz Ltd, a business specialising in both permanent recruitment and the supply of temporary staff for 388,350 in a cash and
share deal.
The acquisition is in line with the Companyís strategy of growing its business by acquiring complementary recruitment businesses, with a view to becoming a leading online and traditional recruitment company within the UK.
The Buzz is based in Kingston-upon-Thames and specialises in permanent recruitment in the leisure, retail and sales sectors; and temporary recruitment in the catering, retail and office marketplaces.
Doug Woodward CEO of The Buzz will join the Board of hot group as Managing Director of the Recruitment Division. Doug formerly ran his own IT Recruitment business, The Span Consultancy Ltd, which was acquired by Computer People in 1994. Doug joined the board at Computer People, later to
become the Delphi Group, as COO reporting directly to Chairman and CEO, Tony Reeves. Following the acquisition of the Delphi Group by Adecco, Doug left the company to pursue other interests, and in 1999 set up The Buzz
Recruitment Consultancy Ltd. Dougís appointment at hot group will further strengthen the Groupís management team and provides additional experience to the Company, as it continues to pursue its longer-term growth objectives.
hot group Chairman and CEO Tony Reeves said: ìThis is a further step in the exciting development of hot group into a leading recruitment company. Doug Woodward was an integral part of the success we had when building Delphi
Group into a leading European recruitment operation. The acquisition therefore not only reunites a successful team but increases our presence within the traditional recruitment market both geographically and by
critical mass.î
ìWe are already the UKís fifth largest supplier of online recruitment services and our expansion into the traditional recruitment market began with the acquisition of Parkside Recruitment Limited, a company with a turnover of 9.5million. We continue to look at other potential
acquisitions in both the online and traditional markets, to fulfil our objective of creating a hybrid that combines the best of online resourcing with the benefits of traditional services.î
hot group Plc acquire traditional recruitment agency The Buzz Ltd
.
