CONTRACTS & DEALS: 13-17 MAY 2024
This week’s new contracts & deals include: Apsa, Jobmatch Sweden, Kelly, Mach Recruitment
• Due to a shortage of qualified professionals in Austria, Jobmatch Sweden and the Austrian IT recruitment company Apsa have entered into a partnership to help companies attract new employees in sectors such as IT and finance. Apsa’s partnership with Jobmatch Sweden will be used to support existing and new clients’ recruitment processes and ensure they benefit from the Jobmatch Talent psychometric testing to find the right candidates. With the Apsa partnership, Jobmatch is now represented in nine countries. These include Sweden, Denmark, Finland, Norway, Germany, Malta, Mexico, Luxembourg, and now Austria.
• Global specialist talent solutions provider Kelly has entered into a “definitive” agreement to acquire Motion Recruitment Partners (MRP) from Littlejohn & Co, a US-based private investment firm headquartered in Greenwich, Connecticut. Under the terms of the agreement, Kelly will acquire MRP for $425m (£338m) in cash to be paid at close, with additional earnout potential of up to $60m based on certain performance criteria. Kelly expects to fund the transaction through debt and available capital, including the rapid redeployment of more than $100m from the sale of Kelly’s European staffing operations in January 2024. The transaction is expected to close in Q2 2024, subject to receipt of required regulatory approvals and other customary closing conditions.
• Mach Recruitment, a Leeds-based specialist recruitment business, has agreed a £45m invoice finance facility with Metro Bank. As a specialist recruitment business working in the ecommerce and food sectors, Mach Recruitment will use the financing to support its acquisition and growth plans to diversify. The invoice finance package from Metro Bank will provide the additional funding it needs to meet the long-term needs of its business. Mach Recruitment was advised by Mazars Debt Advisory. Metro Bank was advised by European Valuation and Shoosmiths.