DGAP-News: AURELIUS SE & Co. KGaA / Key word(s): Takeover
AURELIUS acquires leading provider of employability and rehabilitation services Working Links
- Operations in the UK, the Republic of Ireland, and the Middle East
- Annual revenues of around EUR 160m in 2015
- Already three acquisitions in the second quarter of 2016
- No negative effects expected due to Brexit
Munich/London, 29 June 2016 - The AURELIUS Group (ISIN DE000A0JK2A8) has acquired Working Links, a leading provider of welfare and rehabilitation services with operations in the UK, the Republic of Ireland, and the Middle East. In the 2015 financial year, Working Links recorded revenues of around EUR 160m. The acquisition was made for an undisclosed sum.
Working Links delivers employability consulting and rehabilitation services across three markets: The aim of the employability services is to improve living conditions through employment, training, and personal skills development. The rehabilitation services aim to reduce reoffending and thus protect the public. The international specialist services include employability consulting services for domestic workers in Saudi Arabia and Kuwait, and also delivery of Job Path, the Irish Government's flagship programme to support bringing long-term unemployed people back to work in six regions of the Republic of Ireland. This contract with the Irish Department for Social Protection (DSP) is delivered by Working Links in a 50-50 joint venture with FRS Recruitment Services, the Irish national recruitment agency with 35 years of experience in providing career advice.
Since its founding in 2000, Working Links has delivered on more than 200 government contracts and programmes, helping over 350,000 people to return to employment and social inclusion.
Phil Andrew, Chief Executive of Working Links: "Today marks an exciting new chapter in the history of Working Links. The long-term investment from AURELIUS will enable the organisation to accelerate its growth and transformation plans and to continue to provide best-in-class services for socially excluded people."
"The timing of this investment may seem surprising to some audiences directly following the UK's decision to leave the European Union. However, AURELIUS has always sought investment in complex situations, including turbulent macroeconomic backdrops which often create interesting investment opportunities that fit with our investment model", said Dr. Dirk Markus, CEO of AURELIUS. "We do not expect detrimental consequences for Working Links due to Great Britain's upcoming exit from the EU, nor do we expect consequences from Brexit to negatively affect the AURELIUS Group."
Currently, the AURELIUS Group consists of 24 subsidiaries with locations in Europe, Asia, and the U.S.A. These include numerous traditional consumer brands, services businesses and a number of industrial enterprises. Companies are acquired based on strict investment criteria without focusing on any particular industry. Shares of AURELIUS SE & Co. KGaA are listed in the m:access segment of the Munich Stock Exchange and are traded on all German stock markets under ISIN DE000A0JK2A8.
|Company:||AURELIUS SE & Co. KGaA|
|Phone:||+49 (0)89 544 799-0|
|Fax:||+49 (0)89 544 799-55|
|Listed:||Regulated Unofficial Market in Berlin, Munich, Stuttgart; Open Market in Frankfurt|
|End of News||DGAP News Service|