Technical recruitment specialist Morson Group moved its business into new sectors and extended its geographical reach after it bought Westbury White & Nunn (WWN), which supplies staff to the telecoms, rail and natural resources industries.
Technical recruitment specialist Morson Group moved its business into new sectors and extended its geographical reach after it bought Westbury White & Nunn (WWN), which supplies staff to the telecoms, rail and natural resources industries.
Morson targeted WWN as part of its plan to grow its business organically and through acquisitions. The deal was agreed for £1.2 million, which was paid in cash.
This move by Manchester-based Morson strengthens its business in the south of England and complements its developing telecoms recruitment business.
This is the group’s second acquisition since it joined AIM in March last year, having bought Bluetec, a staffing provider to the building and construction sectors, for £2 million in cash last October.
Morson provides staff to the aerospace, defence, power and rail industries. It made a gross profit of £6.4 million on turnover of £78.7 million turnover for the year ending December 2005.
Fleet-based WWN has more than 17,000 contractors on its database which it supplies either on temporary contracts or on a permanent basis.
WWN says it expects to report a turnover of £10 million in the year ending December 2006 and a net fee income of some £1.4 million.