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Date:                          6 November 2008

On behalf of:              Hexagon Human Capital plc ('Hexagon', 'the Group' or 'the Company')

For immediate release

Hexagon Human Capital plc 

Completion of Winchester Group Acquisition

Further to the announcement released on 10 September 2008 which outlined the details of the signed heads of terms for the acquisition of the Winchester Group ('Winchester'), Hexagon Human Capital plc (AIM: HHC), the UK's leading provider of senior Interim Managers and a leading Executive Search company, is pleased to announce the completion of the acquisition, for an initial consideration of $1.25m and a maximum additional consideration of $4.7m subject to future performance.

Winchester is an Atlanta based executive search firm with a strong reputation in identifying US based senior level professionals for a wide range of UK companies. It produced $3.4m NFI & $0.7m normalised EBIT in the year to 31 December 2007. The acquisition is a significant step for the Group, expanding the business internationally and delivering the highest quality of long term senior and board level assignments. The acquisition complements the Group's senior and board level Executive Search subsidiary, Oxygen Executive Search Ltd and the American business will trade as Oxygen Executive Search Inc, led by its principals, Charlie Chalk and Dave Gallagher.  

Jonathan Wright, Chief Executive of Hexagon Human Capital plc, said:

'We are delighted that the acquisition of Winchester has been completed. The acquisition is a milestone for the Group, further strengthening our client base and enhancing our ability to offer the highest levels of leadership talent domestically and internationally.  

'We would like to welcome Charlie, Dave and the whole team to the Group and look forward to working with our new colleagues to mirror the strong growth we have achieved at Hexagon and continue to deliver industry leading expertise across the enlarged Group.'

-Ends-

Enquires to:

Hexagon Human Capital plc                                      Tel: 020 7337 1133

Jonathan Wright, Chief Executive Officer                       www.hexagonhc.com 

Carl Thompson, Chief Financial Officer

Brewin Dolphin Investment Banking (NOMAD)     Tel: 0845 270 8600

Matt Davis/ Alison Barrow

Redleaf Communications                                           hexagon@redleafpr.com

Emma Kane/ Sanna Sumner/ Anna Dunkin                    Tel: 020 7566 6700

 

Notes to Editors:

• Hexagon Human Capital is the market-leader in providing senior interim management;

• The Group floated on AIM in February 2007; 

• It was established in 2004 by Jonathan Wright and Dr Swee Lip Quek with a strategy to buy and build in the interim management and executive search sectors; 

• Hexagon has already built up a portfolio of profitable companies operating in a variety of sectors: 

  • Archer Mathieson: A leading UK provider of interim management and executive recruitment in the specialist fields of finance, IT and human resources; 

  • BIE Interim Executive: The UK's leading senior interim management company;

  • Correlate Search: Provider of specialist executive search in the international financial services industry, with operations in the UK and Dubai;

  • Euromedica: The UK's leading life sciences and healthcare executive search provider with operations in the UK, Benelux, France, Switzerland, Scandinavia and India; 

  • Oxygen Executive Search: Providing leadership talent to UK and international clients in the retail financial services, industrial, consumer, professional services and real estate sectors, enhanced US presence due to acquisition of the Winchester Group based in Atlanta (September 2008);

  • Roberts & Corr: Providing board level search and HR consultancy to a number of major companies in their specialist sectors including media, financial services, retail and management consultancy.

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