22 May 2022

Longford woman in €318m business deal

Ballinalee's Anne Heraty is CEO of recruitment giant Cpl Resources

Longford woman in €318m business deal

Ballinalee's Anne Heraty is CEO of recruitment giant Cpl Resources

Cpl Resources, the recruitment company established by Longford business woman Anne Heraty, has announced a €318m deal to be taken over by Japanese group Outsourcing. 

Outsourcing is a human resources provider headquartered in Japan and listed on the Tokyo Stock Exchange.

The group consists of about 200 companies with over 300 locations in Japan and more than 350 locations outside of Japan. It has about 80,000 employees.

Ballinalee native and Cpl CEO Ms Heraty, was 29 when she co-founded Cpl and she went on to become the first female chief executive of an Irish publicly quoted company a decade later when she floated the business.

Ms Heraty's husband, Paul Carroll from Tullamore, is director of Cpl, and according to the Irish Times, the couple are in line to receive €110.9 million for their combined 34.9 per cent stake in the business. They plan to stay on board after the transaction is completed, subject to shareholder approval.

Mr Carroll, 56, is a past pupil of Colaiste Choilm, Tullamore where he completed his Leaving Certificate in 1982 and he married Ms Heraty in 1991.

Together they grew Cpl into Ireland's largest human resources management company and expanded it to become a firm with global reach.

Ms Heraty said, "Cpl continues to embrace a global demand for workforce solutions and I believe the opportunities created by this transaction with Outsourcing to be excellent.

"I am excited by the potential this combination has to develop and enhance our outstanding proposition and service offering to our clients who are always our focus.

"The global scale and expertise of Outsourcing will support the three pillars of our 2019 strategic plan, being 'Future Ready', 'Total Solutions', and 'Client First'.”

"I am confident that the strong cultural fit we have with Outsourcing will mean that, together, Cpl and Outsourcing will be a great home for our people going forward," she added.

Shares in Cpl Resources soared by 34.5% today and Cpl Chairman John Hennessy pointed out, "The CPL Board believes that the offer from Outsourcing, if approved, will begin an exciting new chapter for our stakeholders, particularly our employees and our clients."

Commenting on the takeover, Haruhikho Doi, chairman of Oursourcing said, “We look forward to working closely with CPL's senior management and employees to bolster CPL's best in class talent solution services in harmony with our existing expertise in the global staffing industry and our strategic investment capability.”

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