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Blue Group International Holdings
03/11/2006
Healthcare Locums is to acquire Blue Group International Holdings, the social work agency, for up to £14m. The payment will be structured so that HCL pay £10m cash on completion of the deal, and a further £2m on the first anniversary of completion. Earn-out payments could be up to £2m. Blue Group, founded in 2000, saw turnover grow to more than £36m this year. HCL said the deal gives it a "good balance" as it aims to achieve an equal split between its three core markets: allied health professionals, doctors and qualified social workers. Kate Bleasdale, HCL chief executive said the deal "will transform our social work division and represents a significant step towards achieving our ideal business mix." This will be the company's seventh acquisition since its formation in 2003.

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