Phoenix Employment Services has been acquired out of administration by Servoca for £990,000.
Phoenix Employment Services has been acquired out of administration by Servoca for £990,000.
Under the terms of the deal Servoca will only acquire the business, trade and assets of Phoenix and as such will not assume any of the company’s liabilities.
Phoenix is an outsourcing and recruitment company for the nursing and domestic care sector. The company operates from three bases across the Midlands and the Home Counties and its clients include the NHS and private care providers. In the year to July 2009, Phoenix reported a pre-tax profit of around £100,000 on a turnover of £5.2 million.
London-based Servoca is a public sector recruitment company. The AIM-listed business, which for the year-ending 2009 declared a pre-tax profit of £2.2 million on a turnover of £57.6 million, focuses on education, healthcare and security recruitment.
Servoca’s chief executive, Andy Church, says: ‘We are delighted to have completed our first acquisition since the refinancing of the Group in 2009. The acquisition of Phoenix will allow Servoca to provide wider nursing and domiciliary care services to an expanding client base and markedly increase our presence in domiciliary care, which continues to show strong demand.’
