Imprint, the AIM listed, multi-disciplinary, recruitment business is pleased to announce the acquisition of the entire share capital of Accreate, one of Irelandís financial recruitment companies. A summary of key points follows:
Initial consideration of Ä3 million (2.03 million) and additional contingent consideration of up to Ä5 million (3.38 million), 50% in cash and 50% in Imprint Plc shares;
Accreateís net fee income for the five months to 31 May 2005 was Ä0.91 million (0.61 million) and for the full year to 31 December 2004 was Ä1.70 million (1.15 million); and
Strong strategic fit with existing Imprint businesses ñ Accreate employs 14 fee earners who provide middle market financial recruitment to blue-chip clients across the commerce and industry, financial services and public practice sectors in the buoyant Irish market.
Pierce Casey, Chairman of Imprint Plc commented:
ìThe acquisition of Accreate will allow Imprint to create a substantial Dublin business by augmenting the existing product offering with Imprintís more broadly based offerings. Brian Hamill, John Hunter and I look forward to joining Shay Dalton and Ronan Colleran on the board, with a particular focus on helping Accreate develop a senior management and board level practice thereby offering the Irish market an international alternative to local companies in retained executive search. In addition, we wish to position Accreate as the first choice employer for ambitious recruitment professionals in Ireland.î
Imprint is pleased to announce the acquisition of the entire share capital of Accreate
A summary of key points follows:
