On August 27, 2021, HIRE Technologies Inc. (TSXV: HIRE) ("HIRE") completed the acquisition of Leaders and Co., Consulting in Governance and Leadership Inc. ("Leaders"), a premier executive search firm with clients across Canada, strong national and international alliances, and a leading Diversity and Indigenous recruitment practice. The transaction expands HIRE's portfolio into Québec and increases revenue and EBITDA performance.
On closing, HIRE paid $4.6 million in cash, subject to working capital adjustment, and issued 3,559,870 HIRE common shares to the Leaders' vendors at a deemed price of $0.309 per HIRE common share. The acquisition was funded in part by a term-loan facility with FirePower Capital.
HIRE is investing in and shaping the future of human resource management with a technology-first focus, by consolidating and modernizing the staffing marketplace. HIRE owns and operates staffing firms as well as platform technology that it uses to help those firms become more technologically advanced.
Gowling WLG advised HIRE with respect to the acquisition with a team that included Sean Gomes, Duncan Snyder and Mathieu Santos-Bouffard (corporate/M&A) and Malya Amghar (tax), assisted by student-at-law Olivier Bonneau-Desjardins. The team also included Christina Pawliszyn and Manuel Martins (financial services) who advised on the term-loan facility.