There will also be an opportunity for Scanlan and Dixon to receive a further shareholding in People Infrastructure based on Recon achieving EBITDA for either FY19 or FY20 of $4 million.
People Infrastructure expects its 50 per cent shareholding in Recon to contribute $800,000 in EBITDA for the next 12 months assuming a continuation of current economic conditions.
“The acquisition of a 50% interest in Recon represents a logical extension of our core workforce management business and delivers People Infrastructure a stake in a new platform in the high-growth IT industry. People Infrastructure and Recon are an excellent strategic fit,” says People Infrastructure’s managing director Declan Sherman.
“Recon Solutions and Recon Executive are well recognized as market leaders in IT recruitment and People Infrastructure look forward to offering their services to existing People Infrastructure clients.
“Recon Technology has emerged as a leading advisor to the financial services sector focused on …