Empresaria Group PLC
18 May 2006
Empresaria Group plc
Investment in Interactive Manpower Solutions Limited
Empresaria Group plc ('Empresaria' or 'the Group') is pleased to announce that
on 17th May 2006 it invested INR (Indian Rupees) 42,440,000 (approximately
£500,000) by way of equity investment and convertible debentures in return for
an approximate 25% stake in Interactive Manpower Solutions Private Limited ('IMS
'). Empresaria has agreed to make a further INR 29,760,000 (approximately
£350,000) available to fund further expansion of the business and retains an
option to increase its shareholding to 67.5% in the future.
This transaction continues the expansion of Empresaria's international
operations, taking the Group into a fast growing economy and rapidly developing
staffing market.
IMS was established early in 2006 by AAA IT Solutions Private Limited, an India
based IT company specialising in HR related software. It has established
operations in Ahmedabad and will be using the funds invested to establish a
national branch network across India. The focus of IMS operations is on
permanent and temporary staffing, HR outsourcing and training. As well as
providing business solutions to the expanding Indian market, it is anticipated
that IMS will offer HR services to companies outside of India.
Commenting on the acquisition, Miles Hunt, Chief Executive of Empresaria said:
'India offers both growth opportunities and access to high quality, lower cost
skills and resource. We are delighted to have invested in such a fast
developing business, with such an ambitious management team in such a dynamic
market place.'
For further enquiries please contact:
Empresaria Group Plc
01293 649 900
Tony Martin (Chairman)
Miles Hunt (Chief Executive)
Nick Hall-Palmer (Finance Director)
First City Public Relations
020 7436 7486 / 07739 185 050
Ian Foster
Notes for editors:
Empresaria Group plc is an international specialist staffing group built on a
philosophy of management equity.
Empresaria was formed in 1996 by Miles Hunt and consists of 26 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, Indonesia,
Czech Republic and Slovakia.
This information is provided by RNS
The company news service from the London Stock Exchange
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