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CNC Global Ltd. |
Business Description
CNC Global is Canada’s leading provider of full-service IT staffing to a client roster that includes 33% of the companies listed on the S&P/TSX 60. Since 1981, the Company has worked with organizations across Canada to develop and implement full-service staffing strategies that improve new hire quality, streamline the recruitment process and contain the costs associated with resource management, providing advantages over resources obtained in-house or through other third-party staffing firms. The Company’s Contract Consulting and Permanent Search lines of business lead the industry, while its vendor management program provides sophistication. CNC Global now ranks 10th in Branham’s list of the country’s “Top Professional Services Companies” and was recently selected as #1 on the 10 Best Small & Medium Employers in Canada for 2004 according to the QCED and Hewitt Associates BSME study.
Investment Thesis
CNC Global's management team has been able to broaden the Company's product offering of full service IT staffing solutions and develop a technology platform which is unrivalled in the industry in terms of scalability and cost effectiveness.
TorQuest has invested in CNC Global's extraordinary management team and hopes to build on the Company's successful track record of profitable growth. Coupled with organic growth, TorQuest will work with management to complete potential strategic acquisitions in this fragmented market.
Investment Results
On May 1st, 2006, CNC Global was sold to the North American division of Vedior NV, one of the world’s largest staffing companies based in the Netherlands. During the period of TorQuest’s ownership, CNC’s annual revenues increased from C$150 million to C$260 million with profitability also increasing significantly. This was achieved through organic growth initiatives and the implementation of a strategic acquisition plan.
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