AIM-listed firm Imprint Search and Selection says its acquisition of financial services recruitment firm Morgan McKinley will create a number two competitor in the market to Michael Page.

Imprint is paying £24m for Morgan McKinley, funded through a placing at 220p a share to raise £18m. This is Imprint’s second major acquisition in three months, after buying professional services recruiter ECHM late last year. The company now has 900 contractors and 230 fee-earners and a market capitalisation of around £110m.

Imprint now comprises four brands: WoodHamill for £120,000-plus search assignments; Imprint for £70,000 to £120,000 senior and middle management posts; ECHM for professional services and commerce and Morgan McKinley for financial services positions in the £25,000 to £70,000 bracket.

Imprint chief executive Brian Hamill (pictured) told Recruiter: “We couldn’t have found a better business for lack of overlap and cannibalisation of existing revenue streams.”

The post-acquisition plan, added Hamill, was “to offer recruitment solutions from junior management positions through to main board appointments, so we end up with much stickier business-to-business relationships with our clients”.

Morgan McKinley managing director Rob Thesiger will now become an executive director on the Imprint board. One of his first tasks will be to roll out the Morgan McKinley brand to Imprint’s Asian markets.

Imprint has changed its name to Imprint plc to reflect the fact that contingent and temporary business will account for “a material proportion of the enlarged group’s net fee income”.

For the year to 31 December 2004, Imprint’s turnover was up 70% to £7.9m and pre-tax profits increased 227% to £1.25m.