Hudson Asia Pacific completes management buy-out

Hudson Asia Pacific yesterday announced the completion of its management buy-out (MBO) announced in December 2017.

Effective 1 April 2018, Hudson's Asia Pacific recruitment and talent management business has changed ownership to Apache Group Holdings - a newly formed company led by current Hudson Asia Pacific CEO Mark Steyn and an MBO team with 76 years' combined tenure in the business.

Apart from Steyn, the executive committee (ExCo) team consists of ANZ executive general manager for specialist recruitment, Dean Davidson; Asia executive general manager for specialist recruitment, Amy Yates; APAC executive general manager for talent management, Simon Moylan; and CFO Kendall Ryan.

Mark Steyn, chief executive officer, who led the management buy-out with the regional leadership team revealed that the Hudson brand will be retained to capitalise on a high level of market awareness and strong customer partnerships, and building upon our success over the past 30 years in Australia/New Zealand and more than 18 years in Asia.

Steyn added: "We will leverage our unique combination of specialist recruitment and talent management capabilities, and data analytics and insights, to help clients discover talent that will stay and perform in today’s competitive environment."

Hudson APAC also introduced today its new board of directors (BoD) consisting of leading business strategists, investment and innovation experts who will work closely with Steyn and the Executive Committee to guide the growth strategy, and oversee governance and stewardship of the business moving forward.

The Hudson Board will be led by Robert Moran, a seasoned chairman, strategist and private equity investment expert with a legal background; Holly Ransom, who specialises in disruptive strategy and digital innovation with a passion for youth and women in the workforce; Lachlan MacGregor, a technology investment expert with a background in investment banking; and Steven Power, a high growth global technology entrepreneur.

Moran, chairman of the newly appointed BoD, said: "The executive committee's significant collective experience and their personal commitment to the business, combined with insights generated over many decades of operating in ANZ and Asia will be critical success factors for the company moving forward. With their commitment to evolve the business independently, and to investment and innovation, we are very well positioned to achieve further growth in the future."

Hudson's APAC business employs a large team of 700 employees, the majority of whom are specialist recruitment and HR professionals with in-depth understanding of their markets and talent requirements in the region. The company operates 16 offices across Australia, New Zealand, Singapore, Hong Kong and China.

An earlier media release by Hudson Global in December 2017 estimated net proceeds from the APAC buy-out at US$6.0 million, subject to customary transaction adjustments.

It also noted that Hudson Global intends to focus on its growing, global recruitment process outsourcing (RPO) business going forward.

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