Corporate & Commercial

Workforce Holdings Limited recently acquired a 100% interest in the Dyna Group

Workforce Holdings Limited ("Workforce"), a JSE-listed services company engaged in employment, training, healthcare, wellness, financial services, recently acquired a 100% interest in the Dyna Group with effect from 1 June 2018.

The Dyna Group comprises four operating companies that provide leadership, management and supervisory training primarily on a business-to-business basis in both South Africa and Namibia.

The acquisition of the Dyna Group was structured as a sale of shares for cash in respect of the entire issued share capital of each of the operating companies comprising the Dyna Group. The purchase consideration for the acquisition of the applicable shares is an amount not exceeding R80,000,000, subject to the Dyna operating companies meeting certain earn-out performance targets over the 3-year earn-out period. The purchase consideration is payable by Workforce in four tranches, with the first tranche against closing and then on each of the first 3 anniversaries of the effective date of the transaction.

The acquisition of the Dyna Group by Workforce will assist Workforce in diversifying its offerings and providing an opportunity for cross-selling between Workforce and the Dyna Group.