Morson announces the acquisition of the business of Westbury, White and Nunn for a cash consideration of £1.2m (The "Acquisition").

Morson, the UK's leading provider of technical contract staffing, supplying over 7,500 highly skilled white collar personnel to the Aerospace and Defence, Nuclear and Power and Rail industries, announces the acquisition of the business of Westbury White & Nunn (the "acquisition"). The acquisition represents the further step in the company's strategy to supplement strong organic growth with selective acquisitions and strategic alliances and consolidation of the sector. 

Based in Fleet, Hampshire, Westbury White & Nunn ("WNN") employs 19 staff. It specialises in the provision of highly skilled professional personnel predominantly to the Telecoms, Rail and Oil & Gas sectors. Personnel are placed on either temporary contracts or on a permanent basis. Westbury, White & Nunn has developed a database of over 17,000 contractors.

The acquisition strengthens Morson's presence in the South of England. Morson's current Telecoms division is still in the developing and wnn's offering in this area compliments it well.  The acquisition also enables Morson to enhance its business in the Rail and Oil & Gas sectors with the support of an experienced and proven recruitment team and senior management resource.  As a result the directors believe that Morson will have an enhanced London and Southern base ready to service the increasing demand which they expect to see in the coming years.

In the year ended the 31st December 2006, WNN is expected to report a turnover of approximately £10m and net fee income of circe £1.4m. The directors believe that the acquisition will be earnings enhancing in its first full year of ownership.

Commenting on the acquisition, Ged Mason, Chief Executive Officer of Morson Group, said

"We are delighted to be able to announce the acquisition of Westbury White & Nunn, our second acquisition since our IPO in March last year.  I believe that Westbury White & Nunn has an excellent strategic fit with Morson's operations, providing permanent and temporary recruitment expertise in core growth sectors whilst strengthening our southern base and expanding new business and new client opportunities particularly within Telecoms, Rail and Oil & Gas."