Integrated buys Corpfit for $3.45m
Integrated Group has signed an agreement to acquire the Corpfit Training Solutions Group for $3.45 million.
CTS is a government-registered training organisation providing workplace training across a range of industries on a national basis.
The CTS acquisition is expected to be completed in mid July, upon regulatory approval of the change in ownership. The acquisition is forecast to contribute about $1 million to Integrated’s after-tax earnings in the 2005 financial year.
Integrated was formed in 1992 as a labour hire supplier to all industry sectors.
It listed on the Australian Stock Exchange in 1999.