Mishcon de Reya advised Impellam Group PLC on the acquisition of Flexy Corporation Limited.
Flexy provides a data-driven analysis platform to deliver insights and consumer-grade digital experiences and enable connections between companies and individuals looking for flexible labour and work. Designed and built by a team of psychologists, recruitment experts and digital architects, the platform uses psychometrics, machine learning, and nudge theory to streamline the casual labour market.
Impellam will pay approximately £3 million in cash for the business up front. Additional consideration may be payable to the vendors of Flexy subject to achievement of future performance conditions.
Julia Robertson, Group CEO, Impellam Group commented: "The strategic partnership with Flexy combines digital capabilities and technologies with our current portfolio's deep heritage and expertise; to offer new solutions, more choice, and better, technology-led experiences for customers and candidates alike."
Head of Corporate and the Recruitment Services Group at Mishcon de Reya Nick Davis led the transaction assisted by Corporate Associate Leanne Maund. Nick commented: "We have seen a proliferation of exciting young companies seeking to transform the staffing industry with their innovative and technologically enabled solutions. The staffing companies that embrace technological change with an entrepreneurial spirit will be able to leverage their existing infrastructure, track-record and industry specific expertise to grow, shape and lead their industry.
We are pleased to have advised Impellam for the first time on a M&A transaction, and, in particular, on a multi-disciplinary partnership that aims to transform the industry. This is a further confirmation of our strong expertise and reputation in the recruitment services sector, as well our understanding of the intersection of the industry with new technologies."