Gattacawww.gattacaplc.com TICKER: GATC EXCHANGE: AIM
Gattaca, formerly listed as Matchtech Group, has over 30 years' experience providing niche recruitment services to the engineering, technology, professional staffing and the employability & skills markets. The Group is recognised as the UK's leading specialist recruitment agency providing contract, professional contract and permanent staff.
Matchtech Group is the UK's number 1 supplier of engineering staff (85% of EBIT) serving blue chip clients like Jaguar Land Rover , BAe Systems (via Xchanging), Transport for London and Atkins. It operates in the 'sweet spot' of the recruitment industry, placing 'hard-to-find' technical personnel.
This morning Matchtech has announced a placing of 1,050,000 shares at 405 p, raising £4.3m. The proceeds of the Placing will be used to repay the drawdown on the Group's existing lending facility which was used to fund the acquisition of Application Services Limited, trading as Provanis, announced on 6 September 2013.
Matchtech has also announced the very significant appointment of Brian Wilkinson as Executive Chairman with effect from 2 December 2013. Brian has worked in the recruitment industry for over 30 years, most recently as an Executive Board member of Randstad Holdings NV, the world's 2nd largest recruitment company, and brings to the Group a track record of successful international strategic development and extensive experience of professional services recruitment.
Foreign buyers gorging on UK stocks
Document can be downloaded here: UK plc ‘going for a song’
Being a shareholder in a company that receives a juicy takeover offer is a marvellous feeling. Something that many fortunate investors have experienced over the past 3 years. Thanks to a spate of M&A bids by deep pocketed overseas buyers – partly triggered by the June 2016 Brexit result, which sent the £ tumbling and adversely affected the FTSE.
Consequently today, given this trend is unlikely to end anytime soon, we’ve highlighted 30 possible acquisition ideas in the attached research paper. Spilt equally between large and smallcap stocks – covering a broad selection of industries.
What’s more we believe most of these businesses are underpinned by strong fundamentals and substantial upside in the event of predatory interest.
According to Factset Mergerstat/BVR, the average bid premium paid for such deals between 2004-14 was 30% – with the figure trending upwards since the global financial crisis.
Happy investing. Published 27th August 2019