Contracts/Deals: Stafforce buys TEK Personnel
UK recruiter Stafforce Personnel has acquired specialist staffing provider TEK Personnel Consultants, according to Insider News Yorkshire.
UK recruiter Stafforce Personnel has acquired specialist staffing provider TEK Personnel Consultants, according to Insider News Yorkshire.
Terms of the deal were not disclosed, but the acquisition is Stafforce’s third in the past six months.
TEK Personnel, which employs 24 staff across its three offices in Sheffield, Derby and Wolverhampton, focuses in the manufacturing, engineering, technical, construction, sales and marketing and IT sectors.
Earlier this year Stafforce acquired Relay Recruitment in Bradford and Action 4 Business in Barnsley.
Speaking about the implications of the deal on the sector, Mark Kingston, senior executive at Boxington Corporate Finance, says: “The industrial staffing sector has seen a flurry of deals in this year. However, many of these deals involved smaller businesses that were in distressed or semi-distressed states.
“For larger industrial staffing businesses (operating profits of £2m-£5m+) there remains acquisition appetite from select European and Far East buyers.”
