Recruitment and business outsourcing provider Network Group Holdings (NGH) has made three new acquisitions.

NGH has bought the business and assets of accountancy and finance recruiter Sheridan Maine for £318,000 in cash for gross assets (including goodwill) of £100,000 and trade receivables of £218,000.

The management of the business will have a 24.9% shareholding in the acquiring company called Sheridan Maine Recruitment.

NGH has also acquired the business and assets of engineering and construction recruiter Options Employment (North) for £664,000 in cash for gross assets (including goodwill) of £50,000 and trade receivables of £614,000.

NGH retains 25.1% of the acquiring company called Options Network, with the remaining 74.9% owned by management.

Finally, NGH has acquired 75.1% of insurance and financial services recruiter Network Professional Recruitment (NPR) from P Investments Ltd (PIL) for £30,000.

NGH has also taken on the debts owed by NPR to PIL, which is roughly £65,000. The remaining 24.9% of the issued share capital of NPR is held by the management of NPR.

The three acquisitions have been funded from internal resources.

NGH chief executive Tim Watts says: “These acquisitions demonstrate our continued focus of delivering growth to NGH by acquisition as well as investing in organic growth. The three companies operate in markets that complement the existing NGH operations and have a presence in sectors that NGH has identified as offering exciting opportunities.”