Kelly Services To Buy Motion Recruitment For $425 Mln In Cash

(RTTNews) - Kelly Services, Inc. (KELYA), a specialty talent solutions provider, announced on Friday that it has signed a deal to acquire Motion Recruitment Partners, LLC or MRP, from Littlejohn & Co., LLC, a private investment firm, for $425 million in cash, with additional earn out of up to $60 million based on certain performance criteria.

The acquirer expects to fund the transaction through debt and available capital, including the rapid redeployment of over $100 million from the sale of Kelly's European staffing operations in January.

Upon the completion of the transaction, expected to be closed in the second-quarter, MRP will deliver services through its existing operating companies and brands to expand Kelly's capabilities and market share.

The acquisition of MRP will enhance the revenue growth potential of the company and accelerate EBITDA margin expansion, the company noted.