Multi-sector recruiter Omega has received substantial interest from recruiters, following its announcement that it is on the acquisition trail (see Recruiter.co.uk 4 November, ‘Omega Resource on acquisition trail’).

James Strickland, Omega Resources Group managing director, told Recruiter that so far the company has received around a dozen serious “direct approaches”.

“This is the start of a process over the period of two years. We are looking to acquire a number of companies, not one or two, but a host of acquisitions,” says Strickland.

He says the main reason for recruiters’ interest has been their desire “to be part of a bigger group, and to join a progressive business that has had historic growth of 30% year-on-year”.

Another reason is that Omega can provide them with high quality back office support systems, helping them to cut their costs, he explains. 

The success of this strategy is fundamental to the company hitting its £50m turnover target within three years.

The company has been buoyed by a £5.5m contract with wine seller Laithwaites over three years, and a contract to provide engineering and logistical support in Afghanistan.  Omega has also won a £750,000 a year contract with the Department of Work and Pension (DWP) to provide support to the unemployed.

“We are feeling really confident that we can come out of the recession in a strong position,” says Strickland. The company is “well supported” by its corporate bankers LLoyds/TSB, he adds. 

Strickland says one of the aims is to expand Omega’s geographical coverage into Scotland and Ireland.

Recruiters will be offered a mixture of cash and earn outs, he says.

Strickland says that a realistic timetable is that the first deal will be carried out during the first half of 2010.