Resources Connection Completes Acquisition Of Ernst & Young’s UK Executive Search & Selection Practice
Resources Connection Completes Acquisition Of Ernst & Young’s UK Executive Search & Selection Practice
Resources Connection Completes Acquisition Of Ernst & Young’s UK Executive Search & Selection Practice
Costa Mesa, CA, April 17, 2002 -- Resources Connection UK, a subsidiary of Resources Connection, Inc. (NASDAQ: RECN) completed the acquisition of Ernst & Young’s Executive Search & Selection practice in the UK. After recently signing a letter of intent, Resources Connection and Ernst & Young closed the deal on Monday.
“We are very pleased to finalize this acquisition, which is an important step towards building a robust business in the UK market,” commented Donald B. Murray, President and Chief Executive Officer of Resources Connection. “We will continue to look for other strategic acquisition opportunities to enhance our ability to serve global companies wherever they operate. Our Big Five heritage gives us keen insight into viable solutions for companies seeking independent consulting alternatives.”
The Executive Search & Selection practice advises organizations across the UK on the selection and recruitment of their senior management teams and on interim management capability. The details of the acquisition include a five-year agreement enabling Ernst & Young to refer opportunities to Resources Connection. Ernst & Young’s Executive Search, Selection and Interim Management candidate database transfers to Resources Connection as part of the deal. In addition, although most employees of Resources Connection UK will be based at the Company’s existing London offices, certain employees will remain at Ernst & Young’s offices to ensure that strong links remain between the two firms.
Chris Beer, Joint Managing Director of Resources Connection UK, commented, “We look forward to working with the talented group of professionals who have created this practice and complementing our existing capabilities with a broadened knowledge base.”
ABOUT RESOURCES CONNECTION
Resources Connection, Inc. is an international professional services firm that provides accounting and finance, human capital and information technology services on a project basis. Headquartered in Costa Mesa, California, the company operates from 42 domestic offices and four international offices. More information about the company is available at www.resourcesconnection.com.
Resources Connection was founded in June 1996 by a team from Deloitte & Touche, and became independent in April 1999, following a management buyout. In December 2000, the Company completed its initial public offering and listed on NASDAQ. The U.S. client portfolio boasts 30 of the Fortune 50 companies and all of the Big Five accounting Firms.
“We are very pleased to finalize this acquisition, which is an important step towards building a robust business in the UK market,” commented Donald B. Murray, President and Chief Executive Officer of Resources Connection. “We will continue to look for other strategic acquisition opportunities to enhance our ability to serve global companies wherever they operate. Our Big Five heritage gives us keen insight into viable solutions for companies seeking independent consulting alternatives.”
The Executive Search & Selection practice advises organizations across the UK on the selection and recruitment of their senior management teams and on interim management capability. The details of the acquisition include a five-year agreement enabling Ernst & Young to refer opportunities to Resources Connection. Ernst & Young’s Executive Search, Selection and Interim Management candidate database transfers to Resources Connection as part of the deal. In addition, although most employees of Resources Connection UK will be based at the Company’s existing London offices, certain employees will remain at Ernst & Young’s offices to ensure that strong links remain between the two firms.
Chris Beer, Joint Managing Director of Resources Connection UK, commented, “We look forward to working with the talented group of professionals who have created this practice and complementing our existing capabilities with a broadened knowledge base.”
ABOUT RESOURCES CONNECTION
Resources Connection, Inc. is an international professional services firm that provides accounting and finance, human capital and information technology services on a project basis. Headquartered in Costa Mesa, California, the company operates from 42 domestic offices and four international offices. More information about the company is available at www.resourcesconnection.com.
Resources Connection was founded in June 1996 by a team from Deloitte & Touche, and became independent in April 1999, following a management buyout. In December 2000, the Company completed its initial public offering and listed on NASDAQ. The U.S. client portfolio boasts 30 of the Fortune 50 companies and all of the Big Five accounting Firms.