Staffing 360 Solutions acquires Poolia’s business in the UK

The US based staffing company Staffing 360 Solutions acquires the business of
Poolia UK Ltd through its subsidiary Staffing 360 Solutions (UK) Ltd.
The deal will be completed on February 28 based on the accounts on the
completion date. The purchase price for the business is £ 500 000, plus an
amount equal to the net asset value of the business at the date of completion.
The deal is dependent on the employee consultation process that is required
according to UK law, and will be completed on February 28, if that process is
successfully completed. Under the terms of the agreement all current seventeen
Poolia UK staff will be offered continued employment within Staffing 360
Solutions Ltd.

“Poolia has been active in temporary staffing and permanent placements in the UK
since 2004. Since the autumn of 2012 Poolia´s UK business has been in a
turnaround process and is now on a positive development track under its current
leadership. Given that Poolia has incurred large losses over several years and
that a profitable business is still to be developed, Poolia has decided to
concentrate on core business on the Swedish, Finnish and German markets. I am
very pleased that we have found a natural home for Poolia’s UK business. In the
UK, Poolia has built a strong reputation as a Finance and Accountancy
specialist, which will complement the current specialist markets operated by
Staffing 360 Solutions under the Longbridge brand” says Dag Sundström, resigning
CEO of Poolia AB.

“We are thrilled with the opportunity to join the Staffing 360 Solutions team,”
stated Tim Hedger, Managing Director of Poolia UK. “The timing and our long-held
vision of becoming a leading staffing firm in UK matches well with Staffing
360’s expertise in the field of permanent placement and temporary staffing
across both the US and UK. We also look forward to leveraging Staffing 360’s
capital markets expertise, which has allowed them to grow through acquisitions
so rapidly.”

“We are pleased to report yet another acquisition for Staffing 360 Solutions
since the start of 2014,” stated Brendan Flood, Executive Chairman of Staffing
360 Solutions. “Poolia adds additional size and services to our existing
operations in Europe. It’s a great addition to Staffing 360’s recent Initio
acquisition and complements our Longbridge Recruitment operations in the UK.”
For further information please contact:

Dag Sundström, resigning MD and CEO, Poolia AB, +46 70 511 64 58
Björn Örås, Chairman of the Board, Poolia AB, +46 70 525 79 97
Poolia’s business concept is to provide companies and organizations with the
skills that, either temporarily or permanently, meet their needs for qualified
professionals. Poolia specialize in temporary staffing and permanent placement
of professional staff in our focus areas of Finance & Accounting, Financial
Services, Office Support, IT & Engineering, Sales and Marketing, Human
Resources, and Executive Search. Poolia has business in Sweden, Finland, United
Kingdom and Germany. Poolia is listed on the NASDAQ OMX Stockholm AB since 1999.