Blue collar workforce specialist AWF adds white collar recruiter Madison for $36M

Tue, 01 Oct 2013

By Tina Morrison Oct 2 (BusinessDesk) – AWF Group, New Zealand’s largest provider of temporary staff, has agreed to buy Madison Group for as much as $36 million to expand into the recruitment of professional workers from its core business of recruiting labourers. Madison Group had sales of more than $56 million in the year ended March 31, compared with AWF’s revenues of $131 million. AWF expects earnings per share for the combined underlying business to lift by more than 50 percent after a complete financial year in 2015, allowing steady grow...

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