Integrated Group sale on track

WEST Perth diversified labour hire group Integrated Group Ltd has completed due diligence for the sale of its training subsidiary, Integrated Training Pty Ltd, to TodayCorp Pty Ltd. The sale price is $1 million, by way of TodayCorp shares, and in addition Integrated has subscribed to a $1.5 million convertible note in TodayCorp, as part of a broader funding and growth plan for TodayCorp. TodayCorp is a Sydney-based provider of training software and services. This transaction is understood to substantially increase its national presence and make it a leading player in the area of accredited training. Integrated CEO Chris Sutherland, whose appointment to the board was announced this week, also confirmed to WA Business News that the company had ended its involvement in executive search. Integrated general manager executive recruitment Stephen Stock left the company last week. Mr Sutherland said the operation had focused around Mr Stock, who was expected to establish his own business. The changes follow a review undertaken by Mr Sutherland following his arrival earlier this year from his previous role as executive director, asset services, at listed engineering group WorleyParsons Ltd. In recent weeks he has also completed the sale of two boats to Mermaid Marine Ltd, a deal announced before his appointment. “Today is really the first as us as a simpler, more focused organisation,” Mr Sutherland said after the announcement.

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