Specialist executive search firm Management Search Australasia has been acquired by outsourcing and recruitment firm Chandler Macleod Ltd in an effort to expand its operations in Western Australia.
Specialist executive search firm Management Search Australasia has been acquired by outsourcing and recruitment firm Chandler Macleod Ltd in an effort to expand its operations in Western Australia.
The acquisition price has not been disclosed but consideration includes cash and shares in Chandler Macleod and a 12 month earn out based on performance.
MSA has a reported turnover of $12 million per year and its principals (Warren Reynolds, Ray Hince and Chris Meredith) will be staying in the business.
The MSA Group of companies comprises Business Recruiters Australia, Hospitality Recruiters Australia and Management Search Australasia (MSA). The business was founded more than 15 years ago and the group operates under the MSA banner.
The full Chandler Macleod announcement is below:
Leading HR Outsourcing and Recruitment firm, Chandler Macleod Limited (CHD), has expanded its operations in Western Australia with the purchase of Management Search Australasia (MSA), a leading specialist executive search firm and provider of office support and hospitality recruitment services, primarily to the mining and industrial sectors.
The purchase is an important expansion of Chandler Macleod's existing
branch network in the strong Western Australian economy, and follows the
recent expansion in New Zealand with the acquisition of Wellington-based
supplier of blue collar and contract engineering personnel and project teams,
Match 2.
MSA has turnover of approximately $12 million per year.
The acquisition price has not been disclosed but the consideration includes
cash and shares in Chandler Macleod, and a 12 month earn out based on
performance. MSA's principals (Warren Reynolds, Ray Hince and Chris
Meredith) will be staying in the business. The acquisition will be earnings
accretive from the outset.
CHD Managing Director and CEO, Stephen Cartwright, said: "This is an
important acquisition for Chandler Macleod in the buoyant Western Australian
recruitment and outsourcing market, and is in line with our strategy to make
bolt-on acquisitions which enhance sector and geographic diversity.
"The acquisition gives Chandler Macleod a particularly strong exposure to
executive, permanent and temporary recruitment opportunities in WA's mining
industry, as well as the broader employment market in that State.
"We are particularly pleased that MSA's well known and respected principals
will be staying on to drive continued growth," Mr Cartwright said.
Although about 95 per cent of MSA's business is in Western Australia, it does
have smaller offices in Melbourne and Sydney that will also become part of
the Chandler Macleod operations in those locations.
Mr Cartwright said Chandler Macleod was likely to complete further bolt-on
acquisitions over the coming months as the Company optimises its reach
across all major industry sectors and along the full length of the human capital services value chain.
