Tory donor Lord Ashcroft bags £300m from sale of his recruitment firm Impellam to Dutch rival HeadFirst

In the money: Impellam’s chairman Lord Ashcroft (pictured) 

Tory donor Lord Ashcroft will collect nearly £300million after his recruitment company Impellam was sold to Dutch rival Headfirst for £482million.

Ashcroft said he was ‘delighted’ with the deal to sell a firm he founded in 2008.

The former Conservative Party deputy chairman will make £298.8million from his 62 per cent stake in a firm that finds staff for the global technology and engineering sectors. 

Impellam, based in Luton with 2,000 staff, will delist from London’s stock market. 

The offer, which values Impellam’s shares at 1084.4p each, is a premium of 66.8 per cent to Tuesday’s closing price and 154.6 per cent more than April 2022.

The takeover follows a lengthy courtship after the companies said they were in talks over the summer. 

Impellam chief executive Julia Robertson and chief financial officer Tim Briant are set to remain and join Headfirst’s board. 

Lord Ashcroft said: ‘The combined strengths of Impellam and Headfirst will create a market leading, more digitally enabled, service offering.’

Read original article here

Denial of responsibility! Pioneer Newz is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a Comment