Morgan McKinley acquires Cork-based outsourcing firm Abtran

Combined business will employ 2,500 people and have €300m in projected revenues

The deal is expected to complete in the coming months. Photograph: PA Wire

The deal is expected to complete in the coming months. Photograph: PA Wire

 

Leading recruitment company Morgan McKinley is to acquire Cork-based outsourcing firm Abtran.

The terms of the agreement have not been disclosed but the deal, if approved, will see Morgan McKinley acquiring the entire share capital of Abtran.

The combined businesses will employ some 2,500 people and have projected annual revenues of more than €300 million. It will be run by the current leadership team.

The deal, which requires the approval of the Competition and Consumer Protection Commission, is expected to complete in the coming months.

“Each business will keep their long-established and well-renowned brand identities as they combine, while retaining all senior leadership, executive management teams and staff,” both companies said in a joint statement.

As part of the deal, the chief executive of Morgan McKinley Gerald Fitzgerald has been announced as global chief executive designate of the combined holding company.

“This combination of two successful and highly complementary businesses will enable us to extend our global reach with a wider range of in-demand services,” Mr Fitzgerald said.

“It places us strategically onto a future growth trajectory that will create benefits for our clients, our colleagues and the organisations and industries who partner with us to remain competitive in a challenging global environment,” he added.