News - Midlands
Staffline on the acquisition path
AIM-listed Staffline, based in Nottingham, will also pay a deferred cash consideration of £500,000, payable in January 2011, and two further cash payments payable up to an aggregate maximum of £1m based on 50 per cent of the profits achieved in excess of £500,000 during the two financial years following the acquisition.
Peter Rowley, the principal of the Grimsby-based training provider, will remain committed to AIM-listed Staffline for a minimum of two years. Andy Hogarth, Staffline chairman and chief executive, said: "We continue to look for similar acquisition opportunities, in addition to other smaller industrial recruitment businesses, in order to enhance shareholder value."