Vedior is pleased to announce it has acquired an initial 74% interest in Qualitair Aviation Group Ltd ("Qualitair" or "the Company"), a UK-based market
leader in the provision of skilled contract aircraft engineers and technicians on a worldwide basis.
Zach Miles, Vedior's Chief Executive said, ""Qualitair has an enviable reputation in this niche market and the Company neatly complements our
established engineering recruitment presence in the UK provided through the Hill McGlynn and Beresford Blake Thomas brands."
Founded in 1969, Qualitair also operates, since 1997, from offices in Amsterdam supplying locally-based engineers. The Company is ISO accredited
with Lloyds Register Quality Assurance and its clients include commercial passenger and cargo airlines, aircraft manufacturers, as well as specialist
aircraft maintenance firms. Qualitair achieved audited annual sales to 31 March 2005 of £8.0 million (11.8 million).
Traditionally, the armed services have acted as a rich source of qualified aircraft engineers, however in recent years there has been a significant decline
in the numbers both entering and leaving the services. Today, aircraft engineering is officially recognised by the UK government as a `Shortage
Occupation' and it is estimated that there are only 4,500 fully qualified heavy- aircraft engineers in the UK and possibly only 20,000 or so worldwide. As
airlines struggle to keep pace with new technologies and more rigorous aviation standards, and with air passenger growth predicted to continue at a
rate of between 3%-5% per annum, we anticipate continuing high demand for Qualitair's services.
Qualitair's existing management team will continue to develop the Company and the outstanding 26% interest will remain with management with Vedior
having the right to acquire these shares in due course.
Company Profile:
Vedior is one of the world's largest recruitment companies and is a full-service recruitment provider with a diversified portfolio of brands targeting a broad
range of industry sectors. Annual sales for 2004 were 6,467 million.
From its global network of offices spanning Europe, North America, Australasia, Asia, South America and Africa, Vedior offers temporary and
permanent recruitment as well as a number of complementary employment- related services such as outplacement, HR outsourcing, payrolling and training.
Vedior has a leading market position in the provision of professional/executive recruitment in sectors such as information technology, healthcare, accounting,
engineering and education. In order to meet client requirements for all categories of personnel, we also have a significant global network providing
administrative/secretarial and light industrial recruitment.