India, May 3 -- Kelly Services, Inc. (KELYA), a specialty talent solutions provider, announced on Friday that it has signed a deal to acquire Motion Recruitment Partners, LLC or MRP, from Littlejohn & Co., LLC, a private investment firm, for $425 million in cash, with additional earn out of up to $60 million based on certain performance criteria.
The acquirer expects to fund the transaction through debt and available capital, including the rapid redeployment of over $100 million from the sale of Kelly's European staffing operations in January.
Upon the completion of the transaction, expected to be closed in the second-quarter, MRP will deliver services through its existing operating companies and brands to expand Kelly's capabilities and ...