Brunel Nederland acquires shares of For All Finance

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Overig advies 03/07/2009 08:10
Brunel Nederland acquired all shares in For All Finance on July 1st 2009. This combination has created a company that can deliver a solution for practically all temporary and permanent positions in financial services. Brunel Insurance & Banking and For all Finance are already well-acquainted with each other as a result of various joint activities in the world of finance.

For All Finance was incorporated in 2000 and within a few years had worked itself up to market leader in financial services marketing. Brunel is one of the largest suppliers of temporary staff for front and back offices at financial service providers. Jeroen Ekkel, director of Brunel Insurance & Banking commented: "This is a memorable moment. Although our cooperation had already often been successful without the official ties, it is good that we are now actually one. The main beneficiaries of this cooperation will be the Brunel and For All Finance clients."

Jan Willem Steunenberg, For All Finance director, is also convinced of the gains to be made by clients: "Together we are even better able to think along with our clients. After all, we are now able to offer a total staffing solution for financial service providers. This combination offers extra chances, in particular with respect to temporary positions, but also for filling permanent positions."

Both parties emphasise that the further elaboration of the cooperation will be structured in more detail in the coming months. The basic principle is that For All Finance will retain its independent position and will continue to operate from Maarssen. For All Finance's management team, consisting of Jan-Willem Steunenberg, Patrick van Hees, Harry Wichers and Ruud Dekker will remain responsible for the day-to-day management of For All Finance. They will also perform activities for Brunel Insurance & Banking.

Jan Arie van Barneveld, CEO Brunel International, being closely involved in the consultations on the acquisition is delighted at the outcome stating: "I have been following For All Finance from the start and have considered it a great company with a strong position in the Dutch world of finance. This is the right moment to join forces. Brunel and For All Finance have performed well separately in the past and now, together, in these more challenging times, with a positive, realistic attitude we can look forward to further success. This deal is the best evidence for it."

The price Brunel pays for the acquisition will depend, in part, on the performance of the business unit in the coming years. For All Finance, with an annual turnover of approximately € 10 million, became part of Brunel on 1 July 2009. The management board will not release any information on the acquisition price.





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