CPL Resources acquires nurse agency

Employment services group CPL Resources has acquired a London-based nurse placement agency for an undisclosed sum.

The acquisition of Nursefinders UK Ltd is the first international acquisition by the IEX-quoted recruitment group.

The acquisition forms part of CPL's development of its Medical Recruitment Specialists brand.

"This acquisition is an ideal fit with our overall strategy for growth and diversification," said the group's chief executive Anne Heraty.

She would not disclose the price paid but said it was a small acquisition that was a "very nice add-on" to CPL's existing healthcare activities. She now hoped to grow the UK company organically.

"It dovetails with our existing business in the healthcare sector and complements our current suite of specialist recruitment companies.

"CPL Resources has now made our first international acquisition. We are excited about the opportunities to continue to deliver growth for our shareholders."

Ms Heraty said that by extending the international presence of its healthcare companies, CPL was better positioned to offer quality service to clients while providing more career opportunities to nursing and healthcare professionals in Ireland and the UK.

In January CPL announced a 79 per cent increase in pretax profits for the six months to the end of December.

Ms Heraty said the company was benefiting from high levels of employment.

Profits for the six-month period rose to €4.6 million from €2.6 million. Revenue was up 34 per cent to €66.3 million.