South African recruitment giant to explore UK acquisitions

A South African recruitment services business is exploring UK acquisition opportunities as part of a strategy to expand into new markets.

Workforce Holdings Limited has appointed North West-based MC Vanguard Corporate Finance (MCV) to identify suitable acquisition targets as it looks to increase its presence overseas.

The £150m-turnover firm, listed on the Johannesburg Stock Exchange’s AltX sub-market, is one of the largest temporary employment services and human capital solutions providers in Southern Africa.

Workforce employs around 1,200 permanent staff and 35k weekly contractors across 3,600 client accounts.

MCV said the UK fits into Workforce’s acquisition strategy well, given the linguistic and cultural synergies the country shares with South Africa.

Acting for Workforce, MCV will target businesses across the human capital and recruitment industries, including those specialising in technical and engineering contract staffing, as well as training and skills development.

Most acquisition candidates will generate profits between £1m and £5m.

MCV Corporate finance executive James Curtis said: “Workforce Holdings is growing at an exciting and impressive rate, MC Vanguard Corporate Finance will be engaging the UK recruitment and employment services market to identify suitable acquisitions that will integrate well into the wider Workforce group.

“Clearly, we will be interested in speaking to strong management teams who believe their recruitment or workplace training company could see substantial synergies as part of a wider diversified group.”

Workforce’s mergers and acquisitions executive, Craig Katz, commented: “Acquisitions are an important source of growth and diversification for Workforce and we are committed to our acquisition strategy.

“We are excited to have mandated MC Vanguard to identify and source UK acquisition opportunities that share Workforce’s entrepreneurial values and are respected brands in their specific industry sectors.”

MCV is part of Mitchell Charlesworth LLP, an financial advisory group with offices in Liverpool, Manchester, Warrington, Widnes and Chester.