Spreading its wings, and not a moment too soon
dcorp is breaking free of the growth constraints of a stalled SA economy. Its strategy is bold, and fast falling into place.
“We intend to be a southern hemisphere player of consequence,” says the staffing services firm’s CE, Richard Pike.
“We consider Africa and the Asia Pacific region to be our growth areas.”
Adcorp’s internationalisation began in earnest with the acquisition of Australian IT contracting and recruitment firm Paxus for A$60m in December 2012. The next big step was to buy blue-collar staffing firm
ALabour Solutions Australia (LSA) for $51,5m in October 2013. Adcorp’s strategy is paying off. “We will earn 45% of our profit outside SA this [financial] year,” says Pike. It would be up from a third in Adcorp’s year to February 2015. This is just the start, says Pike. “We envisage Asia, Australia and Africa [including SA] each generating one third of our profit,” he says.
Adcorp is building fast on its Asia Pacific foundation. Just added, in a $30m bank-financed deal, is Dare Holdings, a Perth-based firm specialising in the West Australian oil and gas sector’s technical and engineering