© Copyright Acquisition International 2024 - All Rights Reserved.

Article Image - Adcorp acquires Dare Holdings for R280m
Posted 6th May 2015

Adcorp acquires Dare Holdings for R280m

JSE-listed Adcorp holdings has announced its acquisition of specialist oil and gas workforce recruiter, Dare Holdings, for an estimated A$30m (about R280m), as it seeks to expand into Africa.

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Adcorp acquires Dare Holdings for R280m

Adcorp acquires Dare Holdings for R280m

View Biography
Image

View Biography
Image

View Biography
Image

View Biography
Image

Acquirer

Debt Providers

Legal Adviser to the Purchaser – Murray Landis

Financial Due Diligence Provider – Alfie Nehama

View Biography
Image

View Biography
Image

Legal Adviser to the Vendor – Mitch Artus

Financial Adviser to the Vendor – Sean Winder

JSE-listed Adcorp holdings has announced its acquisition of specialist oil and gas workforce recruiter, Dare Holdings, for an estimated A$30m (about R280m), as it seeks to expand into Africa.

“The acquisition represents an important and exciting opportunity for the Adcorp Group,” said Adcorp CEO, Richard Pike.

“Dare is extremely well positioned in the Australian market, has exposure to a fundamental industry sector of the Australian economy, has a well-established and experienced management team, long standing global customer relationships, a stable track record of financial growth and strong cash generative characteristics,” he said

Dare was established in 1988 by the vendor and managing director, Christopher Hicks. The business is a provider of qualified and experienced engineering and technical skills on a contract and permanent basis to local and international clients in the oil and gas sector, based in Perth and focusing primarily on the Western Australia market.

The acquisition is to be funded out of increased debt facilities extended by the Group’s Asia Pacific Banking partners, Westpac Banking Corporation, as well as by the Group’s existing and future cash flows generated in Australia.

Pike said that, “the acquisition provides a strong platform for expansion of Dare into both Asia and Africa on the back of its established global customer relationships as well as in collaboration with Adcorp’s existing African operations and recently established Asian presence”.

According to Pike “Adcorp’s acquisition strategy is to buy successful businesses with entrenched management teams and to perpetuate and build on those successes”.

“Dare will be no exception. As such, it is not our intention to make sweeping changes to the business or to tamper with the success formula of the past.

“Rather, the emphasis is on offering Dare scale advantage, specialised know-how where appropriate and the opportunity to cross-sell and tap into a larger client base.”

Categories: Finance, M&A


You Might Also Like
Read Full PostRead - Eye Icon
Liquid Finance Receives Line of Credit From Shawbrook
Finance
21/04/2015Liquid Finance Receives Line of Credit From Shawbrook

Liquid Finance Partnership Ltd (LFPL), a leader in the Merchant Cash Advance sector of the fast growing Alternative Funding market, today announced the establishment of a line of credit with Shawbrook Asset Finance, a division of Shawbrook Bank.

Read Full PostRead - Eye Icon
The Future of Data Labeling Services: Trends to Watch
News
31/08/2023The Future of Data Labeling Services: Trends to Watch

The Future of Data Labeling Services: Trends to Watch Data labeling plays a role in the development of machine learning and artificial intelligence (AI). It involves the process of organizing, tagging or annotating data to make it understandable for machines.

Read Full PostRead - Eye Icon
5 Ways Beginners Can Prepare Themselves for Forex Trading
News
26/05/20225 Ways Beginners Can Prepare Themselves for Forex Trading

It’s a common misconception to assume that the Forex market is complicated. In reality, Forex trading is relatively straightforward, and traders mainly rely on instinct combined with sound financial management. However, before beginners dive into Forex trade

Read Full PostRead - Eye Icon
How Can Insurance Protect Businesses During Daily Operations?
News
12/01/2023How Can Insurance Protect Businesses During Daily Operations?

What type of business do you run? Is it small or large? Are you self-employed? Whatever your business looks like, it’s worth thinking about the type of cover you’ll need in order to protect you, your employees and your company from any unexpected costs tha

Read Full PostRead - Eye Icon
Successful Consumer Analytics Equals Successful Digital Marketing
News
27/03/2023Successful Consumer Analytics Equals Successful Digital Marketing

It’s an exciting time to be a marketer, but it’s also a challenging time in the industry. Knowing what mediums to focus on and where to spend your marketing budget is no simple task.

Read Full PostRead - Eye Icon
The History and Basics of Cost Segregation (Cost Seg)
Finance
22/02/2023The History and Basics of Cost Segregation (Cost Seg)

Cost segregation has a long and varied history, with its roots stretching back to the late-1800s. The concept was initially used as a way to help business owners save money on their taxes by splitting assets into different categories and leveraging the varying

Read Full PostRead - Eye Icon
New Azure App Identifies Cloud Computing Costs
Innovation
05/05/2015New Azure App Identifies Cloud Computing Costs

A new Microsoft Azure app, which helps global organisations identify and track their cloud computing costs, is formally launched in the UK and globally today.

Read Full PostRead - Eye Icon
Advanced Enterprise Communication Solution
Innovation
09/04/2024Advanced Enterprise Communication Solution

Since its inception in 2002, CallTower has remained dedicated to delivering the world’s most advanced communications with its industry-leading Unified Communications as a Service (UCaaS), Contact Center as a Service (CCaaS) and Collaboration solutions.

Read Full PostRead - Eye Icon
Recruit Holdings Acquire Quandoo for USD251m
Finance


Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have 14 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow