Acquisition

25 Jan 2007 07:01

CPL Resources PLC25 January 2007 CPL RESOURCES PLC Acquisition CPL Resources plc, Ireland's leading employment services group, today (25January , 2006) announced the acquisition of 75% of share capital of Key 6Business Solutions s.r.o. from the founder, Enda OCoineen' s through his MozartInvestment fund, managed by Kilcullen Kapital Partners. Key 6 Business Solutions s.r.o. is a leading Czech Company registered in Praguewhich in turn owns 100% of Key 6 Business Solutions s.r.o established in theSlovak Republic. CPL wishes to expand and develop its business in the Central European RegionKey 6 Business Solutions currently has offices in both the Prague andBratislava and the company's vision is to grow and develop as a dynamicrecruitment company in the Central European Region This acquisition forms part of the ongoing development of CPL. Commenting on thepurchase, Anne Heraty, Chief Executive of CPL Resources plc said: "Thisacquisition is an ideal fit with our overall strategy for growth anddiversification. It dovetails with our existing business in Poland andcomplements our current suite of specialist recruitment companies. CPL Resourceshas now made a number of small international investments. We are excited aboutthe opportunities to continue to deliver growth for our shareholders." She added that by extending the international presence CPL are now even betterpositioned to offer exceptional quality services to our valued clients, In response to the acquisition, Enda O'Coineen for Kilcullen Kapital Partnerswho will retain a share in the company, welcomed the acquisition while addingthat "Key 6 has a dynamic team and now with CPL, the company is ready to takeadvantage of great opportunities in Central Europe". 25 January 2007 This information is provided by RNS The company news service from the London Stock Exchange