The £4,005,000 deal brings the entire MW business within Morson Group, finishing a move that started with the acquisition, out of administration, of rival Wynnwith in June 2010.
Morson created the MW subsidiary with the sole intention of obtaining Wynnwith, established in 1973, and Wynnwith SRL, its small Italian subsidiary. Before the current deal, former Wynnwith shareholders held 49 percent of MW, while Morson Group held the remaining 51 percent.
Setup in 1969, Morson is the largest technical staffing company in the UK and provides personnel for defence projects such as the Queen Elizabeth aircraft carrier.
Morson chief executive Ged Mason comments: ‘We are delighted to have concluded the acquisition of the balance of MW bringing the whole business within the Morson Group.
‘MW has continued to progress well and with the successful integration of the Wynnwith operations and client base [within] Morson Group, we look forward to consolidating our position in the coming year.’
The deal was completed on 11 February and Morson’s share price is unchanged at 101p.