17 March 2011 – acquisition
The company has announced the acquisition of Ethos Recruitment, which is a leading supplier of temporary and permanent staff in the Daventry, Rugby and Northampton areas. Ethos is an approved supplier of personnel to many blue chip organisations in the region. The type of workers supplied includes basic manual and engineering labour as well as highly qualified drivers. We continue to believe acquisitions are necessary to drive growth and are pleased by the latest deal, although financial details were not released so the magnitude of the transaction is unclear at this stage. At the current share price we retain our BUY rating.