© 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
Energy Development Corp Financing for Burgos Wind Farm Project
Finance
11/05/2015Energy Development Corp Financing for Burgos Wind Farm Project

In November 2014, Philippines renewable energy company Energy Development Corporation (EDC) signed a US$315m financing agreement with a group of foreign and local banks for the construction of the 150- MW Burgos Wind Project in Ilocos Norte.

Read Full PostRead - Eye Icon
How to Enhance Portal User Engagement
News
21/12/2023How to Enhance Portal User Engagement

A growing number of organizations build web portals to provide reliable access to information to their customers or employees and promote communication and collaboration between them. According to Verified Market Research, the client portal software market siz

Read Full PostRead - Eye Icon
Lower Profits at Brazil’s Foreign Banks Limit Expansion
Leadership
16/02/2015Lower Profits at Brazil’s Foreign Banks Limit Expansion

Reduced profits from capital market-related activities to hold back plans for expansion in the country.

Read Full PostRead - Eye Icon
A Full Service Offering
Legal
01/12/2016A Full Service Offering

For more than 20 years, the Emmanuel Jacques Almosnino (EJA) law firmbased on the luxurious island of Saint Barth- has effectively represented VIPs and high-net worth clients from around the world.

Read Full PostRead - Eye Icon
Volterra launches distributed cloud platform for deploying, connecting and securing applications
Innovation
11/11/2019Volterra launches distributed cloud platform for deploying, connecting and securing applications

Company emerges from stealth with $50 million in top tier funding, 30 plus customers and new offerings: VoltStack and VoltMesh for integrating multi-cloud and edge environments.

Read Full PostRead - Eye Icon
The Heart of the Matter
Innovation
05/01/2022The Heart of the Matter

The world of research is built on collaboration, but finding the space for that collaboration is not always easy. When the European Cardiovascular Research Institute (ECRI) was founded, it was to perform various studies into the field of cardiology.

Read Full PostRead - Eye Icon
6 Strategies for Boosting Employee Productivity and Sales
News
16/03/20236 Strategies for Boosting Employee Productivity and Sales

We often come across managers who provide their employees with full creative freedom and flexibility to meet their deadlines.

Read Full PostRead - Eye Icon
What Kinds of Employee Injuries Are Covered?
Legal
17/03/2023What Kinds of Employee Injuries Are Covered?

If you are injured at your job in Georgia, you are entitled to workers' compensation benefits for your lost wages and medical expenses.

Read Full PostRead - Eye Icon
Simplifying Asset Performance Management
Finance
22/07/2019Simplifying Asset Performance Management

Atonix Digital develops and offers a suite of software solutions to help businesses and utilities to boost efficiency, increase the accuracy of planning, and to improve day-to-day decision-making in an everchanging landscape



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