Hays acquires majority share of Veredus
4 December 2014
Global specialist recruiter Hays has acquired 80% of US IT recruiter Veredus for an initial cash consideration of about US$44m (£28m) on a cash-free/debt-free basis.
Thu, 4 Dec 2014
Global specialist recruiter Hays has acquired 80% of US IT recruiter Veredus for an initial cash consideration of about US$44m (£28m) on a cash-free/debt-free basis.
The selling shareholders, who will all continue in their senior leadership roles within the US Hays business, will retain the remaining equity in Veredus.
As of March 2018, Hays has the option to acquire the remaining 20% from the selling shareholders.
The cash consideration will be fully funded from existing debt facilities.
Veredus will keep its name and branding but will know be known as Veredus, a Hays company.
Hays has had a presence in the US since late 2010.
Global specialist recruiter Hays has acquired 80% of US IT recruiter Veredus for an initial cash consideration of about US$44m (£28m) on a cash-free/debt-free basis.
The selling shareholders, who will all continue in their senior leadership roles within the US Hays business, will retain the remaining equity in Veredus.
As of March 2018, Hays has the option to acquire the remaining 20% from the selling shareholders.
The cash consideration will be fully funded from existing debt facilities.
Veredus will keep its name and branding but will know be known as Veredus, a Hays company.
Hays has had a presence in the US since late 2010.
