Completion of Winchester Group Acquisition

    RNS Number : 6165H
  Hexagon Human Capital PLC
  06 November 2008
   

    Date:                          6 November 2008
    On behalf of:              Hexagon Human Capital plc ("Hexagon", "the Group" or "the Company")
    For immediate release

    Hexagon Human Capital plc 
    Completion of Winchester Group Acquisition

    Further to the announcement released on 10 September 2008 which outlined the details of the signed heads of terms for the acquisition of
the Winchester Group ("Winchester"), Hexagon Human Capital plc (AIM: HHC), the UK's leading provider of senior Interim Managers and a
leading Executive Search company, is pleased to announce the completion of the acquisition, for an initial consideration of $1.25m and a
maximum additional consideration of $4.7m subject to future performance.

    Winchester is an Atlanta based executive search firm with a strong reputation in identifying US based senior level professionals for a
wide range of UK companies. It produced $3.4m NFI & $0.7m normalised EBIT in the year to 31 December 2007. The acquisition is a significant
step for the Group, expanding the business internationally and delivering the highest quality of long term senior and board level
assignments. The acquisition complements the Group's senior and board level Executive Search subsidiary, Oxygen Executive Search Ltd and the
American business will trade as Oxygen Executive Search Inc, led by its principals, Charlie Chalk and Dave Gallagher.  

    Jonathan Wright, Chief Executive of Hexagon Human Capital plc, said:
    
"We are delighted that the acquisition of Winchester has been completed. The acquisition is a milestone for the Group, further strengthening
our client base and enhancing our ability to offer the highest levels of leadership talent domestically and internationally.  

    "We would like to welcome Charlie, Dave and the whole team to the Group and look forward to working with our new colleagues to mirror
the strong growth we have achieved at Hexagon and continue to deliver industry leading expertise across the enlarged Group."

    -Ends-

    Enquires to:

    Hexagon Human Capital plc                                      Tel: 020 7337 1133
    Jonathan Wright, Chief Executive Officer                       www.hexagonhc.com 
    Carl Thompson, Chief Financial Officer

    Brewin Dolphin Investment Banking (NOMAD)     Tel: 0845 270 8600
    Matt Davis/ Alison Barrow

    Redleaf Communications                                           hexagon@redleafpr.com
    Emma Kane/ Sanna Sumner/ Anna Dunkin                    Tel: 020 7566 6700



    Notes to Editors:

    *     Hexagon Human Capital is the market-leader in providing senior interim management;
    *     The Group floated on AIM in February 2007; 
    *     It was established in 2004 by Jonathan Wright and Dr Swee Lip Quek with a strategy to buy and build in the interim management and
executive search sectors; 
    *     Hexagon has already built up a portfolio of profitable companies operating in a variety of sectors: 
    *     Archer Mathieson: A leading UK provider of interim management and executive recruitment in the specialist fields of finance, IT
and human resources; 
    *     BIE Interim Executive: The UK's leading senior interim management company;
    *     Correlate Search: Provider of specialist executive search in the international financial services industry, with operations in the
UK and Dubai;
    *     Euromedica: The UK's leading life sciences and healthcare executive search provider with operations in the UK, Benelux, France,
Switzerland, Scandinavia and India; 
    *     Oxygen Executive Search: Providing leadership talent to UK and international clients in the retail financial services, industrial,
consumer, professional services and real estate sectors, enhanced US presence due to acquisition of the Winchester Group based in Atlanta
(September 2008);
    *     Roberts & Corr: Providing board level search and HR consultancy to a number of major companies in their specialist sectors
including media, financial services, retail and management consultancy.


This information is provided by RNS
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