EOH has reached an agreement with Rothwell International, trading as Highveld PFS, to acquire its business for R70-million.
Based in Pretoria, Highveld is a contract management business and registered labour broker that provides financial, taxation and administrative services to contractors and staff resourcing.
The acquisition enables EOH to grow its combined resourcing businesses and to place more skills into the market place.
It also gives EOH a resource base of contractors for its other businesses and the opportunity to further skill resources through EOH's training facility, EOH Academy.
The maximum purchase consideration of R70-million as at the effective date of the acquisition will be settled by way of a cash consideration of R37-million and the issue of 4,4-miilion EOH shares, valued at R33-million at the effective date of the acquisition.