AIM-traded technology recruiter Networkers International has accelerated its overseas expansion through the acquisition of the Comms Group.

AIM-traded technology recruiter Networkers International has accelerated its overseas expansion through the acquisition of the Comms Group.

Guided by the ambitious Spencer Manuel, CEO, Networkers has bought Comms for a ‘nominal’ cash consideration and a commitment to inject £750,000 into its working capital coffers. Set up in the early 1990s, Comms enjoyed net fee income of £4 million on £20 million sales in 2008 and provides staffing and other recruitment services to the telecoms, energy and ICT (Information and Communications Technology) sectors.

A diverse business – operations span the UK, Europe, the Middle East, America, the Far East and Australia – Manuel insists Comms will help Networkers accelerate its international expansion in the telecommunications and energy markets.

Strongly cash generative and with a ‘healthy balance sheet’, Networkers continues to run the rule over potential acquisitions ‘that may present themselves at this point of the economic cycle’.