Criminal records check firm TMG CRB meets GB Group’s acquisition requirements
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Publicly-listed GB Group has acquired tmg.tv to access what it calls a 'growing market' for Criminal Records Bureau disclosure checks.
Nottingham-based tmg.tv (TMG CRB) has been bought by identity management firm GB Group for an sum which could rise to £3 million.
TMG CRB is identified by GB Group has being the UK's second largest Criminal Records Bureau (CRB) umbrella organisation. Its system currently processes some 170,000 checks a year predominantly for organisations which recruit those working with children and vulnerable adults.
The purchase will allow GB Group, it says, to access the growing market for online CRB disclosure checks, consistent with its core purpose of allowing businesses to connect and communicate with individuals safely.
Under the terms of the deal, GB Group is set to pay an initial £2.25 million on completion. An additinal £750,000 is payable dependent on TMG CRB achieving stretching growth targets.
It will also allow it to package together an integrated online employment screening service from across its operations to provide ID verification, criminal record disclosures and entitlement to drive checks.
GB Group CEO Richard Law says that CRB checking is gong through the same transformation that has been seen in the ID verification sector.
He adds, 'TMG CRB has built a strong foothold in this area and we consider that it will be an excellent fit with our other offerings.'
GB Group, which is listed on the Alternative Investment Market (AIM), currently has customers such as O2, Laura Ashley, HMRC and Ladbrokes.
In August 2010, GB Group moved from the Full List on the London Stock Exchange to AIM in a bid to save costs and simplfy administration. The acquisition of TMG CRB represents its fourth transaction since it made the move.
Keith Daniell, managing director of TMG CRB, comments, 'We're very proud of what TMG CRB has achieved to date but there's no doubt in my mind that they quality of the people and innovation at GB Group will take TMG CRB to a new level.
'The company's Nottingham base is also something we're proud of and I'm delighted that GB Group believes there is a significant pool of talent here to complement its existing workforce.'