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Powerlan pursues aggressive acquisition trail

Powerlan pursues aggressive acquisition trail

Powerlan's acquisition of two recruitment companies this week is a sign of more to come after the company admitted yesterday it hasn't yet finished its spending spree.

The IT services company announced to the ASX on Tuesday it has acquired S.I. Resources Partnership and IT&T Careers for a total of $3.2 million and will fold them into its recruitment and contracting business Pentagon HR Solutions.

The combined company will be managed by current IT&T Careers managing director Steven Hayes.

Pentagon is one of five business arms of Powerlan, the others offering e-business, training, consulting and integration, and specific vertical application development for industries such as manufacturing and banking and finance.

Baker told ARN the company is planning to continue its acquisition trail in each business unit, but refused to reveal further details.

"It's fair to say I am still looking in all of those areas," he said.

Of these, Theo Baker, Powerlan's managing director, admitted recruitment is a profit gold mine, with Pentagon expecting to pull in $20 million in revenues this year.

"I am expecting that [figure] will double by 2001," he said.


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