Recruiter ECHM sold by Imprint

QUOTED recruitment group Imprint has sold its regional ECHM financial recruitment business to concentrate on its core London-based oepration.

The move sees the London-based group selling its operations in Leeds, Manchester and Birmingham to regional operations director David Colgrave.

Mr Colgrave, who has bought the business through his Calton Consulting business, has paid a nominal sum for the goodwill and will pay an annual £200,000 licence fee to Imprint for intellectual property connected to the business up to a total of £800,000.

The three regional offices contributed 7.5% of Imprint's fee income in the year to December 31, 2006 and 6.5% in the six months to June 30.

Imprint said that for both periods the business made “a marginal contribution to profits before central costs”.

Commenting on the sale, John Gordon, chairman of Imprint, said: “We are pleased to have completed the sale which will enable the ongoing Imprint

group a greater focus on its core capital city businesses.”

Calton can trade under the ECHM brand name for the next three months and under the Imprint Search & Selection brand name for the next 12 months.

The sale includes the book debts and work in progress of the ECHM business.