International executive search firm Norman Broadbent has acquired a majority stake in Brussels-based board level leadership consulting and executive search business Acker Deboeck.

According to information released to the London Stock Exchange, the deal was completed for a cash consideration of €169,000 (£135,000) and the issue of acquisition shares.

The company will be rebranded and trade as Norman Broadbent from January 2013.

Norman Broadbent also says it plans to launch “a separately branded, volume recruitment business to capitalise on the growing trend in the marketplace to seek a value driven recruitment solution below board level”.

Norman Broadbent chairman Pierce Casey will chair the new business, which the company says will be launched in January.

And in another development, announced today, Norman Broadbent says it has entered into a new partnership to create a new subsidiary. 

The new business will be led by Adam Gordon, the founder of two established social media brands, WinningWork and Social Media Search, under whose names the new subsidiary will initially trade. Norman Broadbent has taken a 51% interest in the new subsidiary.

The company says it has raised £742,560 through the issue of 2,120,600 new shares at a price of 35p per share. It says the money raised will be used to invest in the three new businesses.