Interim management and executive recruitment firm Hexagon Human Capital has bagged its first acquisition since launching on AIM this year.

Interim management and executive recruitment firm Hexagon Human Capital has bagged its first acquisition since launching on AIM this year.

It’s the sixth acquisition in two years for the recruitment firm, buying Archer Mathieson for up to £17.5 million.

Of the total consideration, £6.6 million will be payable on completion followed by payments of up to £4.3 million, based on the company’s profits, to 2007.

The balance of £6.6 million will be deferred and paid to December 2010, in a mixture of cash and a maximum of 50% in Hexagon shares, subject to certain performance targets.

The deal will create the largest recruitment firm of its kind in Europe, with about 250 senior interim executives on the London-based firms’ books.

Archer Mathieson joins the other five recruitment companies that form Hexagon’s international recruitment portfolio.

Last year, Windsor-based Archer Mathieson reported net income of £3.9 million, profit before interest and tax of £1.2 million and net assets of £1.4 million.

Ranked as the UK’s number one provider of interim management outside London by Executive Grapevine 2007, Archer Mathieson provides recruitment in the specialist fields of finance, IT and human resources.

Clients range from entrepreneurial SMEs to FTSE 250 and Fortune 500 companies across a variety of industry sectors and include Microsoft, Serco and Shire Pharmaceutical.