Healthcare and staffing firm NGS Group acquires Socionomuthyrning
Swedish healthcare and education staffing company NGS Group has purchased consulting firm Socionomuthyrning i Sverige (Social Work Rentals) for SEK17m ($1.9m) in cash. The acquisition will complement NGS Groups’s current offering in social work consultancy services.
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Sweden – NGS Group acquires consulting firm

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Sweden – NGS Group acquires consulting firm

30 March 2017

Swedish healthcare and education staffing firm NGS Group has acquired consulting firm Socionomuthyrning i Sverige AB (Social Work Rentals).

Socionomuthyrning provides consultants for the majority of social services activities. The company was founded in 2013 by social workers Ulf Fredriksson and Janne Karlsson, who then managed the company together; Fredriksson as the CEO and Karlsson as the Executive Vice President. They will continue in their roles. The company had sales of SEK 23.9 million (EUR 2.5 million) in 2016.

"We made our first acquisition in social work consultancy services during summer 2016 and have since sought complementary acquisitions to strengthen our market position and our offer to our customers,” Ingrid Nordlund, CEO of NGS Group, said “Socionomuthyrning has an acknowledged reputation among clients and consultants, not least thanks to Ulf's and Jamie's extensive expertise and experience both as they themselves have been working as social workers, but also as company builders. I am very pleased to announce this acquisition, which will both broaden and strengthen NGS activity in social work.”

"It is our firm conviction that this is a good way to move forward in developing the business of providing social workers with a strong company. We will now jointly lead the way for a healthy and sustainable way to be a reliable and quality-oriented provider of social services. in addition, there are other services that NGS can provide to our existing customers,” Fredriksson and Karlsson, said.

The effective date of the purchase is 2 May 2017. The purchase price for a debt free Socionomuthyrning consists of a fixed purchase price of SEK 17 million (EUR 1.7 million), which is paid in cash. In addition to a possible additional cash payment of up to SEK 7 million (EUR 0.7 million) which can change depending on the company’s operating profit in 2017 and 2018. The company's operations will be reported in the NGS Group's financial reporting as of the second quarter of 2017.