Wednesday, 10 December 2008

Manpower secures hold on NHS temps with Baum Hart

(By Anthony Miller) Microcap (£17m) UK HR software player, Manpower Software is to acquire privately held Baum Hart & Partners for up to £2.2m (see here). BHP’s flagship product, StaffBank, is used by some 90 NHS Trusts to manage their temp workforce. BHP, which also runs a line of financial accounting products for the UK healthcare and education markets, turned over £1.8m in FY08 (to March) earning £800K EBITDA. Manpower reached £11.6m in revenues in FY08 (to May) and £1.85m ‘trading profit’.

Just last week, Manpower announced a ‘strategic alliance’ with NHS Shared Business Services, the joint venture announced in Oct. ‘04 between the Dept. of Health and Xansa, now Steria, to provide back office services to NHS Trusts. Needless to say, my first reaction to the BHP acquisition was that perhaps Steria should have got their first, but there you go. Mind you, Manpower itself looks ‘interesting’ with its focus on Defence, Maritime and Healthcare sectors, both at home and abroad, all good places to be right now. One to watch, perhaps?

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