News
Cavendish advises on the sale of GAAPweb.com
16 August 200516/08/2005
Cavendish Corporate Finance is pleased to announce the recent sale of Financial Jobs Online, the owner of GAAPweb.com, to Trinity Mirror plc.
GAAPweb.com is the UK's leading online recruitment site serving the accountancy and finance sectors. It was set up in the late 1990s and since then has developed into a key player in the online financial recruitment market. Both permanent and temporary positions are advertised on GAAPweb.com and the company's clients include some of the leading recruitment agencies and employers. The site is recognised as one of the first places that financial candidates look when seeking employment.
The shareholders of GAAPweb received unsolicited approaches from five international publishing groups. Cavendish supplemented these approaches by introducing further interested parties to create a hotly contested bidding war. This was reflected in the price paid for the business which represented a 6x revenue multiple.