MRN Morson Grp

 

TIDMMRN TIDMBAB 
 
RNS Number : 1598P 
Morson Group PLC 
12 July 2010 
 

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| For Immediate Release            |                 Monday 12th July | 
+----------------------------------+----------------------------------+ 
 
 
 
                                Morson Group PLC 
                            ("Morson" or the "Group") 
 
      Acquisition of the business and assets of Acetech Personnel Limited 
 
Morson, the UK's leading provider of technical engineering personnel and project 
design solutions, is pleased to announce the agreement of terms for the 
acquisition of the business, contracts and fixed assets of Acetech Personnel 
Limited ("Acetech") for a cash consideration of GBP2.35 million. The effective 
date of the transfer is 9th July 2010. 
 
Acetech is a wholly owned subsidiary of the Babcock International Group PLC 
("Babcock") and provides recruitment and workforce services, on a preferred 
supplier basis, to Babcock's UK Marine and Rail businesses. Acetech currently 
engages approximately 450 contractors providing services under these contracts. 
 
Contracts have been agreed with Babcock for a minimum five year term for the 
continuation of supply of contractors. The acquisition involves the transfer of 
eighteen staff to the Morson Group. 
 
The assets acquired include the recruitment database, fixtures and assets used 
in the business operations of Acetech. Trade debtors are not being acquired. The 
consideration for the acquisition is being met entirely from the Group's 
existing facilities. 
 
Commenting on the acquisition, Morson Chief Executive, Ged Mason, said: 
"Babcock International Group PLC is a longstanding, significant and exciting 
business operating across our core markets. The acquisition of their "in-house" 
recruitment business is a very welcome addition to the Morson portfolio and 
significantly strengthens the relationships with the Babcock Group. We are very 
pleased to welcome the experienced staff of Acetech and look forward to 
providing our services to the Babcock Group. We are confident this strategic 
acquisition will provide additional opportunity and increased market share and 
position Morson well for any future upturn in the market." 
 
                                      ENDS 
 
For further information, please contact: 
 
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| Morson Group PLC             |                              | 
+------------------------------+------------------------------+ 
| Ged Mason, Chief Executive   | +44(0)161 707 1516           | 
|                              |                              | 
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| Paul Gilmour, Finance        |                              | 
| Director                     |                              | 
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| Kevin Gorton, Managing       |                              | 
| Director                     |                              | 
+------------------------------+------------------------------+ 
|                              |                              | 
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| Brewin Dolphin (NOMAD)       |                              | 
+------------------------------+------------------------------+ 
| Matt Davis                   | +44(0)845 213 4730           | 
+------------------------------+------------------------------+ 
|                              |                              | 
+------------------------------+------------------------------+ 
| Buchanan Communications      |                              | 
+------------------------------+------------------------------+ 
| Diane Stewart                | +44(0)20 7466 5000           | 
+------------------------------+------------------------------+ 
| James Strong                 |                              | 
+------------------------------+------------------------------+ 
| Carrie Clement               |                              | 
+------------------------------+------------------------------+ 
 
Notes to editors. 
Established in 1969 Morson is the largest and one of the longest established 
technical staffing companies in the UK. The Group currently provides personnel 
on long term assignments for some well known major infrastructure/defence 
projects. These include the construction of the Olympic Games Development, CVF 
aircraft carrier, rail maintenance and upgrades for Network Rail, Transport for 
London and also nuclear design, decommissioning, maintenance and asset 
improvement. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 ACQFMGGNVLGGGZM 
 

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