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AWF Group Ltd Announces Acquisition Of Madison Recruitment Limited And Madison Force Limited


Monday, 30 Sep 2013 01:03pm EDT 

AWF Group Ltd announced that it has reached agreement to acquire 100% of the shares in Madison Recruitment Limited and Madison Force Limited (Madison Group). The Madison Group is a well respected in the recruitment sector with offices in Auckland CBD, East Tamaki, Hamilton, Wellington and Christchurch. AWF Group will acquire the Madison Group for a maximum purchase price of $36 million, comprising of $30 million to be paid at completion and an additional payment of up to $6 million which is payable subject to the earnings of the Madison Group's business for the 52 weeks following November 4, 2013 exceeding certain thresholds. Such amount (if any) is expected to be paid in late November 2014. Completion of the acquisition is scheduled for 2 December 2013, with an effective date of 4 November 2013. 

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