Spring Group grew by 20% last year, expanding its international presence and winning several big contracts. 

Net fee income is expected to increase by around 20%, according to its update of trading for the year ending 31 December 2008.

Peter Searle, chief executive at Spring, told Recruiterthe company is looking at possible acquisitions.

“The opportunities to buy companies significantly below value are improving day by day.

“When you have a potential pot of £80m to spend, you are always looking at the best time to buy,” Searle said. However, he added the best growth was achieved organically.

The company opened seven new offices in 2008, including locations in Germany, Italy, France, Australia and Singapore. With the share of income from international business expected to increase from 1% in 2006 to 25% of net fee income in 2008.

Spring’s largest contract win is with insurance company Aviva, which is set to become its largest RPO customer.