Kelly Services acquires Motion Recruitment Partners (MRP) for $425 million, projecting revenue growth.

From Investing.com: 2024-05-13 15:39:52

Kelly Services, Inc. is set to acquire Motion Recruitment Partners (MRP) for $425 million, with a potential additional earnout of $60 million based on performance. Despite a 2.6% decline in organic revenue for Q1 2024, Kelly Services projects a 1-2% increase for Q2. The acquisition aims to strengthen Kelly’s presence in technology, telecommunications, and government sectors.

CEO Peter Quigley highlighted the strategic importance of acquiring MRP to enhance Kelly’s staffing and consulting solutions in high-growth industries. CFO Olivier Thirot emphasized the company’s strong balance sheet and financial flexibility to support future growth opportunities. Kelly Services remains optimistic about Q2 revenue growth and is open to exploring additional acquisitions to further expand its portfolio.

Investors can find value in Kelly Services’ consistent growth strategy and commitment to shareholder returns. With a low revenue valuation multiple and a stable dividend yield, the company presents an attractive opportunity for income-focused investors. The acquisition of MRP marks a significant step towards strengthening Kelly’s position in key sectors and driving profitability in the coming quarters.



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