Kelly Enters Agreement to Acquire Specialty Talent Solutions Company Motion Recruitment Partners; Company Says $425M In Cash To Be Paid At Close, With Additional Earnout Potential Of Up To $60M
Portfolio Pulse from Benzinga Newsdesk
Kelly has announced an agreement to acquire Motion Recruitment Partners for $425M in cash, with an additional earnout potential of up to $60M. The acquisition will be funded through debt and available capital, including over $100M from the sale of Kelly's European staffing operations. The transaction is expected to close in Q2 2024, pending regulatory approvals.
May 03, 2024 | 11:34 am
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POSITIVE IMPACT
Kelly's acquisition of Motion Recruitment Partners for $425M, with additional earnout potential, signifies strategic growth. Funded by debt and capital, including proceeds from the sale of European operations.
The acquisition of Motion Recruitment Partners by Kelly represents a significant strategic expansion, indicating confidence in leveraging existing assets and debt for growth. The substantial investment and the planned use of proceeds from the sale of European operations suggest a positive outlook on the acquisition's potential to enhance Kelly's market position and financial performance. The timing and funding strategy also reflect careful financial planning, likely to be viewed positively by investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100