14th October 2005
RK Group sells to Quantica plc in a deal worth £13m
PRESS RELEASE
Cheshire based RK Group Limited has been acquired by Quantica plc, the FTSE listed recruitment and training group, in a £13m deal.
RK Group was founded in 1993 by ex Michael Page board director Richard Robinson. The company consists of six specialist consultancies focused on executive search and selection and the placement of permanent and temporary staff in the finance, logistics, outsourcing and managed services sectors. The company employs over 100 staff across 10 offices in the North West, Midlands and South East of England.
3i originally backed the start-up of RK Group and invested again in 1998. RK Group has grown its network of branches specialising in the recrutiment and career management of qualified and part qualified accountancy staff and more recently has developed a specialist recruitment presence in the supply chain and logistics sectors.
In the year to 30 April 2005 RK Group achieved turnover of £13.5m upon which an operating profit of £1.7m was earned. Net tangible assets totalled £2.2m at 30 April 2005.
Richard Robinson has joined the board of Quantica as an executive director.
The consideration payable comprised cash and the issue of approximately £3m of ordinary shares in Quantica.
Richard Robinson and 3i received corporate finance advice from Stuart Moss of Rickitt Mitchell and legal advice was provided by Philip Goodstone and Shelley McGivern of Addleshaw Goddard.
|