The GO2 People (ASX:GO2) acquires neighbouring recruitment business

• The GO2 People (GO2) recruitment company is set to expand its presence in Western Australia by acquiring industry counterpart Hunter Executive
• The purchase will be made via the equivalent of $900,000 in GO2 shares, which will be held in escrow until September 2022
• Both companies focus on appointments in utilities, resources and building industries
• GO2 Managing Director has described the Hunter buy as “highly complementary” and is expected to bring in roughly $3.3 million in revenue per annum
• Pending shareholder approval, the two Perth-based recruiters are set to join forces on February 15
• GO2 shares have jumped 24.2 per cent on the back of the announcement, peddling at 4.1 cents each

The GO2 People recruitment company is set to expand its presence in Western Australia by acquiring industry counterpart Hunter Executive.

The earnings-accretive purchase will be made via the equivalent of $900,000 in GO2 shares, which will be held in escrow until September 2022.

GO2 and Hunter focus on appointments in utilities, resources and building industries.

The two Perth-based recruiters are set to combine their resources to facilitate both executive and labour hires for clients, providing a more comprehensive service offering.

Pending shareholder approval, the two Perth-based recruiters are set to join forces on February 15.

GO2 Managing Director Billy Ferreira has described the Hunter buy as “highly complimentary” and is expected to bring in roughly $3.3 million in revenue per annum.

“It remains within our core specialisation of recruitment and we look forward to accessing the synergies which will drive organic growth in the future,” Billy commented.

“On the back of consolidation of the company in FY20, this is another step in the right direction,” he added.

A company statement indicates there will be no immediate changes to the GO2
board or executive team, with the exception of an additional non-executive director prior to June 30, 2021.

GO2 shares have jumped 24.2 per cent on the back of the announcement, peddling at 4.1 cents each at 1:28 pm AEDT.