6 October 2016 – Trade investment
The specialist staffing group has taken a 65% stake in ConSol Partners at a cost of £9.4m – the remaining 35% stake is retained by the senior management team of the company, in line with Empresaria’s management philosophy. ConSol is a specialist recruitment group in the IT sector and operates in the UK,USA and Europe supplying both contract and permanent staff. In the year to last December, the company generated net fee income of £7.6m and pre-tax profits of £1.2m. The acquisition enhances the group’s current operations and is expected to be earnings enhancing in its first full year with the group. Although shares in Empresaria have continued to rise they still do not look expensive and we re-iterate our recommendation of BUY.