Dyna Group sold for R80m in cash

Recruitment group Workforce Holdings has acquired Dyna Group for nearly R80m in cash as it looks to increase its exposure to training services, which are in demand in SA. Workforce has been trying to diversify its offering so it can compete in a tough economic time.

Recruitment group Workforce Holdings has acquired Dyna Group for nearly R80m in cash as it looks to increase its exposure to training services, which are in demand in SA.

Workforce has been trying to diversify its business offering so it can compete in a tough economic environment.

Dyna Group includes businesses that provide leadership, management and supervisory training to mostly blue-collar staff for clients.

Some of these businesses are Dyna Training, Dyna Industrial Training and Development, Dyna Training Namibia and NQ Plus Networks.,

Workforce would also acquire Dyna’s branches in Cape Town and Windhoek.

Dyna’s training programmes contain accredited and nonaccredited courses.

The group follows a business-to-business model and also offers learnerships to corporate clients.

Workforce’s management said Dyna Group was an attractive buy because it had a wide range of customers, including numerous blue chip-listed and nonlisted companies.

Workforce and Dyna Group also had potential opportunities for cross-selling.

Dyna has trained about 2,000 people.

Workforce would pay an amount of R79.358m in cash for Dyna. The deal would be completed by July 30.