Morson Group plc, the uk's leading provider of technical contract staffing, is pleased to announce the acquisition of Commissioning and technical Services Limited (CTS) from CTS Group (Holdings) Limited for a cash consideration of up to £1.35 million dependant on the net assets at completion (the "acquisition").
The acquisition represents a further step in the company's strategy to supplement strong organic growth with selective acquisitions, strategic alliances and consolidation of the sector.
Based in Blackpool, Altrincham, Derby and Croydon, CTS engages approximately 300 contractors. It specialises in the provision of highly skilled professional personnel predominantly to the Oil & Gas, Aerospace & General Engineering sectors. Personnel are placed both on temporary contracts and on a permanent basis from a database of over 70,000 contractors.
The acquisition will strengthen Morson Group's developing Oil and Gas division and enhance its operations in the Aerospace and General Engineering sector by adding an experienced and proven recruitment team and senior management resource. the directors believe that the acquisition will further consolidate Morson Group's strong market position in the North and provide additional resource to service the increasing demand across the UK.
As part of the acquisition Morson Projects have taken control of Mavitta. Mavitta are part of the CTS Group and provide Design Engineering, Consultancy and Support Services to Manufacturing and Process industries.
Based at Moira on the Leicestershire/Derbyshire border, Mavitta service clients throughout the Midlands and the UKcovering a wide range of industries including automotive, aerospace, building services, utilities, pharmaceutical, process and manufacturing industries and provides an ideal synergy to Morson Projects current capabilities and core business.
Commenting on the acquisition, Ged Mason, Chief Executive Officer of Morson Group, said
"We are delighted to be able to announce the acquisition of CTS, our fourth acquisition since our IPO in march last year. i believe that the acquisition has an excellent strategic fit providing predominantly temporary recruitment expertise in our core sectors whilst strengthening our geographic coverage and expanding new business and new client opportunities particularly within Oil & Gas."
Visit www.mavitta.com for more information
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