International specialist recruiter Empresaria is set to acquire 28% of the minority shareholding of FastTrack Management Services, a subsidiary of the company.

After the acquisition of the minority shareholding, Empresaria will own 94% of FastTrack, a staffing company that specialises in the placement of construction and engineering personnel on both a contract and permanent basis. 

The total consideration is up to a maximum of £1.96m, with initial consideration of £1.79m payable immediately and deferred consideration of up to £163,000. The deferred consideration payment is contingent on certain performance criteria being met and would be payable in 2011.

FastTrack generated revenue in 2009 of £51m, with profit before tax of £1m.