Empresaria Group PLC
17 March 2006
Empresaria Group plc
Acquisition of Empresaria GIT Holdings Limited
Empresaria Group plc ('Empresaria' or 'the Group') is pleased to announce that
on 17th March 2006 it purchased 60% of the share capital of Empresaria GIT
Holdings Limited ('GIT') for an initial consideration of £90,000 (3.8 million
Czech Crowns). In addition Empresaria has made available a loan of £60,000 (2.5
million Czech Crowns) to fund expansion of the business.
This transaction continues the expansion of Empresaria's international
operations and represents its first move into Eastern Europe. It also extends
the Group's representation into two new countries, the Czech Republic and
Slovakia.
GIT has offices in Prague in the Czech Republic and Bratislava in Slovakia and
supplies staff principally in the IT market. In the year ended 31 December
2005, GIT's operations generated sales of £150,000.
Commenting on the acquisition, Miles Hunt, Chief Executive of Empresaria said:
'We are delighted to be able to announce this continuation of our international
expansion programme and our first step into the rapidly developing Eastern
European markets.'
For further enquiries please contact:
Empresaria Group Plc 01293 649 900
Tony Martin (Chairman)
Miles Hunt (Chief Executive)
Nick Hall-Palmer (Finance Director)
Bridgewell Securities Limited 020 7003 3000
James Wellesley Wesley
Notes for editors:
Empresaria Group plc is a diversified recruitment group built on a philosophy of
management equity through organic growth, investment in start-up businesses and
providing funding for management buy outs within the staffing sector.
Empresaria was formed in 1996 by Miles Hunt and consists of 25 staffing
companies. Its business model allows founder managers and key staff within
Empresaria's subsidiaries to acquire or retain a meaningful stake in the
businesses they run or work in.
Empresaria currently provides specialist recruitment services across five
sectors in the UK; namely:
1. Construction, Property Services & Engineering;
2. Supply Chain;
3. Public Sector;
4. Financial Services; and
5. Specialist Brands.
In addition, Empresaria is actively expanding internationally and has already
established operations in the US, China, Japan, Australia, Thailand and
Indonesia.
This information is provided by RNS
The company news service from the London Stock Exchange
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