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Among them, the enterprise technology department is the fastest growing business department, with revenue growing at a compound annual growth rate of 57.6% from 2021 to 2023.
Preliminary forecasts detailed in the flyer say UpperGround expects total revenue to grow 11% on that basis in 2021, to $247.5 million this year. Meanwhile, EBITDA this year is expected to reach $7.3 million, implying a growth rate of 12% over the past four years.
The sell-side pitch states that the recruitment and staffing market is undergoing a generational, permanent shift, with technology-driven temporary staffing solutions becoming increasingly popular.
Against this backdrop, UpperGround was seen as an opportunity to acquire a business with reliable customers, annuity-style revenue streams and healthy EBITDA margins – all underpinned by Hudson’s deep domain expertise gained over more than 30 years in the industry.
UpperGround is about to enter the auction stage as technology trading begins to recover after being low during the rate hike period. Melbourne-born HR software company PageUp is also on the auction block.
As for Record Point, it’s off to a fantastic start to the year. Snap Fitness, one of the world’s largest gym operators, has also mandated this, as Street Talk reported on Thursday.
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