Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Staffing 360 Solutions widens its reach in the UK with takeover of London-based recruiter Clement May

The acquisition broadens the company's offerings in the IT staffing sector
Job hunters
Shares in Staffing 360 tripled on the announcement

New York-based staffing provider Staffing 360 Solutions (NASDAQ:STAF) is ratcheting up its presence in the UK with the takeover of Clement May, a London-based recruitment firm.

The move will broaden Staffing 360’s offerings across the IT staffing sector in particular and crack the door open for international business.

The deal was welcomed by investors as Staffing 360's shares tripled today to finish at US$5.50.

“The acquisition of Clement May reflects our continuing focus on strategic M&A activity that, in concert with an intelligent integration program, is designed to drive top-line growth towards our stated revenue growth of US$500mln over the next two years and bring us one step closer to generating positive net income,” said Brendan Flood, chairman and CEO of Staffing 360 Solutions.

Staffing 360 didn’t disclose financial details of the deal.

The company did say, however, that for the year until the close of June, Clement May generated revenue of roughly US$50mln and operated profitably.

Chris Rowbotham, Clement May’s managing director, has been tapped to take on the combined role of managing director of Clement May and Longbridge Recruitment 360, a Staffing360 Solutions subsidiary that specializes in finance, accounting and legal recruitment.

Staffing 360 owns an array of recruitment companies and is looking to acquire additional ones in the US and UK.

Clement May, meanwhile, provides help with executive search and interim recruitment across an array of specialist sectors as well as payroll management and other managed services.

View full STAF profile View Profile

Staffing 360 Solutions Timeline

Related Articles

chrome pipes
June 20 2018
Another change recently was for Tharisa to take over the running of the mine, which involved it buying the fleet from its contractor
Hong Kong harbour
September 17 2018
The transition of the business through the diversification of legacy assets and investing in new opportunities in Asia is well underway, said chairman John Croft
Picture of Malaysian city
May 09 2018
The group’s ability to provide benefits to the retail sector was demonstrated in 2017.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use