Antal International chief executive Tony Goodwin is looking to build “a Central European powerhouse in recruitment services” with Poland as its focal point.

Speaking exclusively to Recruiter, Goodwin said Antal was exploring several options to boost its presence especially in Poland, which he described as “the jewel in the crown” of the Central European market, comprised of Bulgaria, Croatia, the Czech Republic, Hungary and Romania. Antal recently opened a new Polish office in Wroclaw, and will open new operations in Gdansk and Katowice over the next eight months, Goodwin said.

“The plan is that by 2013-14, we will be in a position to do an IPO [initial public offering] in Poland but there are other options as well: go for a quotation on the Warsaw Stock Exchange, which may be combined with the Bucharest Stock Exchange or indeed another central European bourse,” Goodwin said. “We’re not ruling out the private equity route either.” Goodwin said he would look for a valuation of between $80-120m (£31.2-62.5m) based on a profit EBITDA of “around $10m”. He added: “And we will use that quotation valuation to buy all the good quality local recruiters within the Central European market. Within a three-to-five-year period we will be looking at building that circa $100m valuation at IPO into a $350-400m valuation through acquisition. So it’s a very exciting growth story for Polish investors.”

Entering the recruitment process outsourcing (RPO) arena in Central Europe could also be on Antal’s agenda. Goodwin suggested: “We know there are local players emerging within that marketplace but we could use our valuation and paper to acquire local RPO players as well, so that we would become a fully diversified human capital management operation” to achieve financial balance across a portfolio of permanent, contract and RPO revenue streams.

Antal is approaching its 20th anniversary in business, and Goodwin predicted that the firm’s track record in emerging markets, along with the longevity of its top and local management, will appeal to Central European investors: “I think this is what investors are looking for that expertise, that substance. We are a tried and tested recruitment solution.”