People Infrastructure to snap up two QLD recruitment practices for $16.8m

Company News

by Jessica Amir

Tech recruitment company, People Infrastructure (ASX:PPE) announced plans to snap up two QLD healthcare staffing agencies, First Choice Care Pty Ltd, and Carestaff Nursing Services Pty Ltd for $16.8 million.

The purchase of the QLD leaders in hospital and aged care nursing staff recruitment, will be funded from People Infrastructure's cash facilities, including its recent $20 million share placement.

People Infrastructure expects that First Choice and Carestaff will contribute $3.4 million in EBITDA for the next 12 months and it be ‘significantly earnings accretive’.

Their management teams will remain in place, to continue to drive business growth.

Shares in People Infrastructure (ASX:PPE) are trading 1.59 per cent lower at $3.09
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.