Assay Corporate Finance acted as financial advisors to the Board and shareholders of Archer Mathieson, which has been acquired by AIM listed Hexagon Human Capital PLC, creating the largest interim executive business in Europe.
Archer Mathieson provides interim management and executive recruitment in the specialist fields of finance, IT and human resources. It is ranked as the UK’s number one provider of interim management outside London by Executive Grapevine 2007. Clients range from entrepreneurial SMEs to FTSE 250 and Fortune 500 companies across a variety of industry sectors and include Microsoft, Serco and Shire Pharmaceutical. The company is based in Windsor and employs 25 people.
For the 12 months ended 31 December 2006, Archer Mathieson reported net fee income of £3.9m, profit before interest and tax of £1.2m (normalised) and net assets of £1.4m.
The maximum consideration payable is £17.5m. Of the total consideration, £6.6m is payable on completion followed by payments of up to £4.3m based on the profits of the company for the 12 months to December 2007. The balance of £6.6m falls due for payment over the period to December 2010, subject to the achievement of certain performance targets.
Hexagon Human Capital