Imprint is to spend up to £5m acquiring the Ingram consultancy in the United Arab Emirates, its first venture in the region.

It will pay £1.2m initially, 75% in cash and 25% in new Imprint shares. An additional £3.8m will be paid in cash and/or shares, depending on how Ingram performs in 2006 to 2008.

In 2005, Dubai-based Ingram reported net fee income of £969,000, and a net profit of £166,000. The company provides mid market to senior recruitment services to clients throughout the Gulf region.

Imprint had spent several months working on the deal (Recruiter, 17 May).

Imprint chairman Pierce Casey said: "In addition to further investment in the development of Ingram's existing brands, we plan to launch other Imprint brands as and when appropriate."

Chief operating officer John Hunter told Recruiter: "Ingram is quite like Imprint Search & Selection. We'd like to have the Morgan McKinley brand in the region as well."

He said the deal would help Ingram build up its oil and gas business in the Middle East region. "We can help with the relationships we have with the European players."

Ingram will open an office in Qatar under its IQ Selection brand before the end of 2006.

Ingram was founded in 1994. The current management team, and all 24 staff, will remain with the business.