Financial Services recruitment specialist Morgan McKinley announces that Imprint Search and Selection plc is acquiring 100% of its shares for 24m. Imprint will fund the acquisition by issuing new equity and raising debt. Morgan McKinleyís largest shareholder is private equity specialist 3i which owns 43% of the company. The balance is owned by the founders and employees.
The company was restructured in 2002 with the appointment of Ken Brotherston as Chairman. Together with CEO Robert Thesiger, they restored the company to profitability and returned it to strong growth. Robert Thesiger will remain as CEO of Morgan McKinley whilst Ken Brotherston will be leaving the company on completion of the transaction. Given the strong growth in both organisations, there are no plans for any redundancies among Morgan McKinleyís staff.
Robert Thesiger, CEO of Morgan McKinley, comments ëWe have achieved a phenomenal turnaround in the last two years. The opportunities that this transaction affords Morgan McKinley are very exciting as it enables us to extend our services both locally and internationally to clients and candidates and offer our employees greater career development options than ever before.î
Ken Brotherston, Chairman of Morgan McKinley, said: ëMorgan McKinley has enjoyed exceptional progress over the last 2 years. We are delighted that the next phase of the companyís development will take place within the Imprint group with its proven success and strong reputation. This transaction is excellent news for Morgan McKinleyís shareholders, its employees and for its clients.í
Morgan McKinley is acquired by Imprint Search and Selection Plc
Morgan McKinley announces that Imprint Search and Selection plc is acquiring 100% of its shares for 24m
