RGP Sells Assets of Local Nordics Business to Capacent
August 21 2019 - 9:30AM
Business Wire
Resources Connection, Inc. (NASDAQ: RECN), a multinational
business consulting firm operating as Resources Global
Professionals (‘RGP’), announced today that its wholly-owned
subsidiary, Resources Global Professionals Sweden AB (‘RGP Sweden’)
has signed a definitive agreement with Capacent Holding AB (publ),
a Swedish public company (‘Capacent’). RGP Sweden will transfer
substantially all of its employees, assets, liabilities, contracts
and local client relationships in Sweden, Norway, Iceland and
Denmark (‘the Nordics’) to Capacent in a cash transaction expected
to close in September 2019. RGP will continue to serve its
strategic global clients doing business in the Nordics.
Tim Brackney, COO of RGP, said, “We are pleased to transfer our
local Nordic operations to Capacent, a well-regarded player in the
Nordic market; and we are confident they will continue to provide
value to our former clients and create opportunity for our former
employees. RGP will continue to service the needs of our strategic
global clients in the Nordics. Furthermore, we are committed to
developing a mutually beneficial collaboration agreement with
Capacent.”
Edvard Bj�rkenheim, CEO of Capacent, said: “The two companies'
operations are similar, and we see great synergies in several of
our business areas. This is an important acquisition for our
Swedish operations.”
About RGP
RGP is a global consulting firm that enables rapid business
outcomes by bringing together the right people to create
transformative change. As a human capital partner for our clients,
we specialize in solving today’s most pressing business problems
across the enterprise in the areas of Business Transformation,
Governance, Risk and Compliance and Technology and Digital
Innovation. Our engagements are designed to leverage human
connection and collaboration to deliver practical solutions and
more impactful results that power our clients, consultants and
partners’ success.
RGP was founded in 1996 to help finance executives with
operational needs and special projects created by workforce gaps.
Our first-to-market, agile human capital model disrupted the
professional services industry at a time when traditional talent
models prevailed. Today’s new ecosystem for work embraces our
founding principle – quickly align the right resource for the work
at hand with a premium placed on value, efficiency and ease of
use.
Our pioneering approach to workforce strategy uniquely positions
us to support our clients on their transformation journeys. With
more than 3,800 professionals, we annually engage with over 2,400
clients around the world from more than 70 practice offices. We are
their partner in delivering on the future of work. Headquartered in
Irvine, California, RGP is proud to have served 86 of the Fortune
100.
The Company is listed on the Nasdaq Global Select Market, the
exchange’s highest tier by listing standards. To learn more about
RGP, visit: http://www.rgp.com. (RECN-F)
Forward-Looking Statements
Certain statements in this press release are “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Such forward-looking statements may be identified by words such as
“anticipates,” “believes,” “can,” “continue,” “could,” “estimates,”
“expects,” “intends,” “may,” “plans,” “potential,” “predicts,”
“remain,” “should” or “will” or the negative of these terms or
other comparable terminology. Such statements and all phases of the
Company’s operations are subject to known and unknown risks,
uncertainties and other factors that could cause our actual
results, levels of activity, performance or achievements and those
of our industry to differ materially from those expressed or
implied by these forward-looking statements. Risks and
uncertainties that may or may not be realized include certain
anticipated benefits of the acquisition such as our ability to
offer front-end, digital capabilities to our clients, our ability
to greatly strengthen our position in the growing digital market
space, our ability to move into the healthcare space, EBITDA and
revenue expectations, as well as seasonality, overall economic
conditions and other factors and uncertainties as are identified in
our most recent Annual Report on Form 10-K and our other public
filings made with the Securities and Exchange Commission (File No.
0-32113). Additional risks and uncertainties not presently known to
us or that we currently deem immaterial may also affect our
business or operating results. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof. The Company does not intend, and
undertakes no obligation, to update the forward-looking statements
in this press release to reflect events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events,
unless required by law to do so.
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version on businesswire.com: https://www.businesswire.com/news/home/20190821005433/en/
Media Contact: Michael Sitrick (US+) 1-310-788-2850
mike_sitrick@sitrick.com
Investor Contact: Tim Brackney, Chief Operating Officer
(US+) 1-408-855-7901 Timothy.Brackney@rgp.com
Jenn Ryu, Interim Chief Financial Officer (US+) 1-714-430-6309
Jennifer.Ryu@rgp.com
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