The law firm is paying up to £3m for a business-psychologist firm
Gateley is expanding its portfolio with the acquisition of Kiddy & Partners.
The London-listed law firm will pay up to £3m in the deal. Kiddy, which calls itself a firm of business psychologists, specialises in human capital assessment and management, as well as board effectiveness.
Gateley is paying £850,000 in cash and shares. The remaining amount is deferred and will be paid out in cash and shares based on the division’s profit performance in the next three years.
The listed firm said it expects the acquisition to immediately boost its earnings. Last year, Kiddy had an income £2.42m and an operating profit of £213,000.
“This acquisition significantly broadens and strengthens our employment and people services offering. There will be clear opportunities for us to collaborate and deliver integrated advice and services to a broader set of large-scale employers and across a wide range of industries,” said Michael Ward, Gateley chief executive.
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