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Tuesday Feb 19
Network Group
Executive Network Ltd in Dec 2007, was acquired by Network Group, one of the UKs largest independent groups operating in the specialist recruitment and business outsourcing markets.
Network Group is acquiring a majority stake in the business. Executive Network has over 9 years recruitment experience working with some of the UKs largest FMCG companies in food, drink, luxury, sports and fashion sectors. The business was established in 1999 by Russell Moore and has grown year on year. The business will benefit from the professional specialist recruitment division of Network Group.
Network Group floated on the AIM market in September 2007 and has developed by investing in start-up recruitment businesses and other selected acquisitions. Network Group currently has a portfolio of over 20 trading subsidiaries in the UK.
Russell Moore, Managing Director of Executive Network, said: This is an exciting time for our company to merge with the Network Group. The acquisition will take the business to a new level. Being part of an ambitious, publicly quoted group will provide numerous opportunities to benefit our clients, candidates and staff. This can only bring positive benefits to the business as we look to further expand in the future.
Jon Smith, chief executive of Network Group, commented 'We said when we floated Network Group that we wished to continue the expansion of the group by way of acquisition and this is evidence of that intent. Executive Network will add additional variety to our offering and we look forward to making further additions which meet our criteria for success.
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