Vedior North America acquires Canada's Leading IT staffing firm, CNC Global Limited. Acquisition bolsters Vedior NA's position in the North American IT staffing industry.
Wakefield , Mass. – Vedior North America today announced that it has acquired a 93% interest in CNC Global Ltd ("CNC Global" or "the Company"), Canada's leading provider of IT recruitment and resource management solutions.
CNC Global works with organizations across Canada to meet their contract and full-time IT staffing needs. CNC Global also offers a full range of Recruitment Process Outsourcing (RPO) solutions, including contractor administration, payroll administration, vendor management, contact center staffing, recruitment advertising and HR communications. CNC Global maintains approximately 2,400 IT consultants on client sites across Canada and generated CAD256 million in audited revenue for the year ended January 31, 2006.
The acquisition of CNC Global strengthens Vedior NA's IT staffing presence, which currently exists through its Sapphire Technologies brand. The combined reach of Sapphire Technologies and CNC Global makes Vedior NA one of the largest providers of IT staffing services across North America.
"With the addition of CNC Global's Canadian capabilities to our already established IT staffing presence in the U.S., we are now able to expand our ability to meet our clients needs as the dominant IT staffing provider in North America," said Greg Netland, Chief Executive Officer of Vedior NA. "I'm very excited about CNC Global's strategic complement as well as the business opportunities that will result from this partnership."
"Having Vedior NA as our parent company creates excellent opportunities for our continued growth," said Terry Power, President and Chief Operating Officer of CNC Global. "The synergy between our two companies will enable us to respond to the global procurement strategies of our clients, while solidifying our position as Canada's premier IT staffing firm."
Moving forward, CNC Global will continue to operate under its existing management team with its existing name.
Robert W. Baird & Co. served as exclusive financial advisor to CNC Global Limited and it's majority share holder TorQuest Partners Value Fund L.P.
About CNC Global Limited
With more than 250 employees in 11 branches across Canada, CNC Global specializes in sourcing IT professionals for full-time and contract positions and offers customized solutions for contractor administration, payroll administration, vendor management, recruitment advertising and HR communications. In 2004 and 2005, CNC Global was named as one of Canada's Top 5 Small-Medium Employers and currently ranks 9th in the Branham Group's list of the country's "Top Professional Services Companies". CNC Global is also one of Canada's 50 Best Managed Companies. For further information visit http://www.cncglobal.com.
About Sapphire Technologies
Beginning as a single branch office in Woburn, Massachusetts, Sapphire has grown to include 38 offices in North America, with an excess of 380 internal employees across the country. Their expanding global network operates 60 offices in 8 countries including North America, Europe, Asia and the Pacific Rim. Sapphire connects top talent with top companies around the globe or around the corner providing highly skilled information technology and software engineering contractors and consultants to local, national and International clients. For further information visit http://www.sapphire.com.
About Vedior North America
For the most prestigious organizations across a wide range of industries, Vedior North America offers a one-stop global staffing solution. Vedior NA is able to flexibly tap into all of the specialized skills required to quickly adapt to every business condition. Unlike "general purpose" staffing companies, Vedior NA's staff possesses the market sector experience needed to ensure the optimal fit between its clients' needs and their experienced talent pool. Vedior NA is part of the Netherlands-based Vedior, NV, one of the world's largest staffing companies with a diversified portfolio of brands targeting a broad range of industry sectors in 44 countries.
Vedior's shares are listed on the Euronext Amsterdam stock exchange and included in the AEX index of most actively traded securities under the symbol VDR. For correct stock information in North America, use the VDOR.AS symbol.
For more information on Vedior NA, visit http://www.VediorNA.com.
Source: Press Release, Vedior North America