10/07/2006

Empresaria grows in Poland

Empresaria Group has acquired majority stakes in three Polish businesses in line with its objective of building a broad international presence.

The three Krakow-based businesses, which share a common management team, are ITC PRACA Sp. Z.o.o., ITC APT Sp. Z.o.o., and ITC CS Sp. Z.o.o.

Empresaria has taken a 51% shareholding in each one. The current management team retains the balance of the shares in each company.

Empresaria has also acquired an indirect interest of 25% in Cufik Sp. Z.o.o, a business that provides Polish contractors and migrant workers with insurance, travel and tax consultancy services.

Empresaria chief executive Miles Hunt said: “The investment by Empresaria in ITC and its related companies provides Polish workers with direct access to our UKbased operations and gives Empresaria exposure to the high growth Polish staffing market. This is another significant step in Empresaria’s strategy to become a broadly based international staffing group.”

Empresaria is paying initial consideration of £0.6m for 51% of each of the businesses with potential further consideration of up to £0.7m dependent on financial performance in 2006 and 2007.

Source: recruitermagazine.co.uk



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