Global executive recruitment firm Antal International has today announced the acquisition of AGEC a well respected domestic recruiting firm based in Beijing. Antal have been in the human capital consulting market in China for well over a decade since relocating its previous APAC base from Hong Kong to Beijing in 1999 and has grown to over 120 professional staff in Beijing and Shanghai today.
Commenting on the move Antal´s Group Managing Director, Graeme Read said AGEC are a credible, proven and professionally run business in the recruitment space in China and having them within our family has so many mutual benefits for Amanda Ao and her team and for our business, it is a true partnership and we look forward to many years of growth ahead.
James Darlington, Antal´s Head of Asia paid tribute to the business Amanda Ao, AGEC´s Managing Director, has built and their respected client relationships saying Amanda and her team have created a really excellent business in China, one that delivers really high service levels for her clients and my entire team in China and the Board share the vision to help her business grow in partnership with ours. They are a very clear partner for us and one who shares our vision and a lot of our methodologies.
This acquisition comes after a 18 month long period scouring the market in China for quality players in the domestic recruitment industry and it affords both benefits to Antal in its reach into more domestic Chinese companies and local expertise and benefits in terms of long term development of its staff and processes and more exposure to international business for AGEC. With Antal´s international office network feeding clients into the existing business, the growth in 2011 has exceeded 2010 which was an equally exciting year for the Asian arm of Antal.
Tony Goodwin, Chairman, CEO and Founder of Antal noted that this first acquisition in China laid the foundation for Antal´s expansion in China with the headcount it has set to double and new offices being planned for the fast growing second tier cities. This fits with our goal to be the recruiter of choice in each of our markets and we are delighted to welcome Amanda and her team on board. I know our people see this as an exciting step for us and one that will bring many mutual successes.
Paul Russell Group Finance Director led the M&A team with Steven Case and engaged accounting firm BDO China and law firm Mayer Brown LLP to advise on the acquisition. Commenting on the deal Mr Russell paid tribute to the UK team and the local professional firms who helped navigate the foreign waters smoothly.
