UK’s Hat Pin joins India talent rush
India’s talent pool is getting more attractive to global search firms.
By Sudeshna Sen, TNN |
LONDON: India’s talent pool is getting more attractive to global search firms. The UK-based human resources group, Hat Pin, on Thursday bought search firm Executive Access India, for a maximum consideration of £6.9 million in a mixture of cash and shares. The transaction is being part funded by placing 5,500,000 new Hat Pin shares at 100 pence a share to raise £5.5 million.
Of the consideration, £6.5 million is payable on completion, with an additional £0.4 million payable on the basis of Executive Access India’s profitability till December 31, 2008. Hat Pin chief executive Angela Campbell-Noë, said: “Executive Access India is one of the pre-eminent executive search firms in India with an outstanding track record. I am delighted that we are able to extend our network into such a key, fast-growing market place with one of the most talented and ambitious teams.”
This is Hat Pin’s fourth acquisition under CEO Angela Campbell-Noë, in the past 19 months and the first in India. The Hat Pin group currently operates globally through its three subsidiary brands — the wholly-owned Akamai Financial Markets, The Talent Business, and the 70%-owned Saxton Bampfylde Hever (formerly known as Kendall Tarrant worldwide).
The Indian acquisition, said the company, is in line with Hat Pin’s stated growth strategy and accesses the “exciting talent pool in the vibrant, burgeoning Indian economy.” The deal is expected to deliver further diversification of the group’s revenues and enhance earnings in the first full year of ownership, the company said.
Executive Access India, which operates across financial services, technology, corporate, academia and not-for-profit sectors is expected to fully complement existing Hat Pin businesses. Hat Pin primarily operates in the provision of human resource through Akamai Financial Markets, a specialist international executive search firm concentrating in the financial services and financial markets arena, with leading positions in London, Hong Kong, Singapore and Tokyo. Saxton Bampfylde Hever, a premium brand in the executive search industry is a leading adviser on senior appointments in higher education, central government, charities and the arts, and The Talent Business is the leading global specialist in marketing communications talent.
“Our existing businesses have maintained the momentum from the start of the year, with strong forward order books and high levels of activity, and the group remains on track to meet expectations for the year,” said Ms Campbell-Noe. Executive Access India was specifically founded to access leadership and to date has 900 top-ranking candidates in more than 150 corporations. Since 2005, Executive Access India has had the largest team amongst search firms in India, the company said.
Of the consideration, £6.5 million is payable on completion, with an additional £0.4 million payable on the basis of Executive Access India’s profitability till December 31, 2008. Hat Pin chief executive Angela Campbell-Noë, said: “Executive Access India is one of the pre-eminent executive search firms in India with an outstanding track record. I am delighted that we are able to extend our network into such a key, fast-growing market place with one of the most talented and ambitious teams.”
This is Hat Pin’s fourth acquisition under CEO Angela Campbell-Noë, in the past 19 months and the first in India. The Hat Pin group currently operates globally through its three subsidiary brands — the wholly-owned Akamai Financial Markets, The Talent Business, and the 70%-owned Saxton Bampfylde Hever (formerly known as Kendall Tarrant worldwide).
The Indian acquisition, said the company, is in line with Hat Pin’s stated growth strategy and accesses the “exciting talent pool in the vibrant, burgeoning Indian economy.” The deal is expected to deliver further diversification of the group’s revenues and enhance earnings in the first full year of ownership, the company said.
Executive Access India, which operates across financial services, technology, corporate, academia and not-for-profit sectors is expected to fully complement existing Hat Pin businesses. Hat Pin primarily operates in the provision of human resource through Akamai Financial Markets, a specialist international executive search firm concentrating in the financial services and financial markets arena, with leading positions in London, Hong Kong, Singapore and Tokyo. Saxton Bampfylde Hever, a premium brand in the executive search industry is a leading adviser on senior appointments in higher education, central government, charities and the arts, and The Talent Business is the leading global specialist in marketing communications talent.
“Our existing businesses have maintained the momentum from the start of the year, with strong forward order books and high levels of activity, and the group remains on track to meet expectations for the year,” said Ms Campbell-Noe. Executive Access India was specifically founded to access leadership and to date has 900 top-ranking candidates in more than 150 corporations. Since 2005, Executive Access India has had the largest team amongst search firms in India, the company said.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
