Resources Connection, Inc. (NASDAQ: RECN), a multinational business consulting firm operating as Resources Global Professionals (‘RGP’), announced today that its wholly-owned subsidiary, Resources Global Professionals Sweden AB (‘RGP Sweden’) has signed a definitive agreement with Capacent Holding AB (publ), a Swedish public company (‘Capacent’). RGP Sweden will transfer substantially all of its employees, assets, liabilities, contracts and local client relationships in Sweden, Norway, Iceland and Denmark (‘the Nordics’) to Capacent in a cash transaction expected to close in September 2019. RGP will continue to serve its strategic global clients doing business in the Nordics.
Tim Brackney, COO of RGP, said, “We are pleased to transfer our local Nordic operations to Capacent, a well-regarded player in the Nordic market; and we are confident they will continue to provide value to our former clients and create opportunity for our former employees. RGP will continue to service the needs of our strategic global clients in the Nordics. Furthermore, we are committed to developing a mutually beneficial collaboration agreement with Capacent.”
Edvard Björkenheim, CEO of Capacent, said: “The two companies’ operations are similar, and we see great synergies in several of our business areas. This is an important acquisition for our Swedish operations.”
RGP is a global consulting firm that enables rapid business outcomes by bringing together the right people to create transformative change. As a human capital partner for our clients, we specialize in solving today’s most pressing business problems across the enterprise in the areas of Business Transformation, Governance, Risk and Compliance and Technology and Digital Innovation. Our engagements are designed to leverage human connection and collaboration to deliver practical solutions and more impactful results that power our clients, consultants and partners’ success.
RGP was founded in 1996 to help finance executives with operational needs and special projects created by workforce gaps. Our first-to-market, agile human capital model disrupted the professional services industry at a time when traditional talent models prevailed. Today’s new ecosystem for work embraces our founding principle – quickly align the right resource for the work at hand with a premium placed on value, efficiency and ease of use.
Our pioneering approach to workforce strategy uniquely positions us to support our clients on their transformation journeys. With more than 3,800 professionals, we annually engage with over 2,400 clients around the world from more than 70 practice offices. We are their partner in delivering on the future of work. Headquartered in Irvine, California, RGP is proud to have served 86 of the Fortune 100.
The Company is listed on the Nasdaq Global Select Market, the exchange’s highest tier by listing standards. To learn more about RGP, visit: http://www.rgp.com. (RECN-F)
Certain statements in this press release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may be identified by words such as “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “remain,” “should” or “will” or the negative of these terms or other comparable terminology. Such statements and all phases of the Company’s operations are subject to known and unknown risks, uncertainties and other factors that could cause our actual results, levels of activity, performance or achievements and those of our industry to differ materially from those expressed or implied by these forward-looking statements. Risks and uncertainties that may or may not be realized include certain anticipated benefits of the acquisition such as our ability to offer front-end, digital capabilities to our clients, our ability to greatly strengthen our position in the growing digital market space, our ability to move into the healthcare space, EBITDA and revenue expectations, as well as seasonality, overall economic conditions and other factors and uncertainties as are identified in our most recent Annual Report on Form 10-K and our other public filings made with the Securities and Exchange Commission (File No. 0-32113). Additional risks and uncertainties not presently known to us or that we currently deem immaterial may also affect our business or operating results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend, and undertakes no obligation, to update the forward-looking statements in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, unless required by law to do so.