Adworks expands by buying rival firm
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Hey there, time traveller!
This article was published 15/10/2009 (6014 days ago), so information in it may no longer be current.
Winnipeg’s largest employee-recruitment advertising and communications firm has further bolstered its presence in the local market with the acquisition of its main competitor.
HR Adworks Ltd. announced Wednesday it has acquired Target Media Inc. for an undisclosed sum of money.
HR Adworks president Larry Licharson said in an interview the acquisition should increase the firm’s yearly revenues by 10 to 15 per cent.
He said it also leaves HR Adworks as the only accredited firm specializing in employee-recruitment advertising and communications, although there may still be a few individual consultants left in the field.
“It’s a very sort of niche market for advertising.”
Licharson and Target Media co-founder Ed Zamkotowich had been talking on and off for about a year before completing the deal.
Zamkotowich said he sold his six-year-old firm, which specialized in the placement of print recruitment ads, because business has been tough and he was ready for a career change.
“This last year has been a real bummer because of the economy. We had very loyal clients, but unfortunately they didn’t post enough ads,” he said. “So I’ll try something else, but it will be away from HR (human resources) recruitment.”
Licharson agreed recruitment advertising “has become a much tougher market” in recent years, partly because it’s become more difficult for employers to recruit people.
He said there was a time when all a firm had to do was place an ad in a newspaper and it would find a suitable candidate.
“Print still works in the Manitoba market, but there is no magic bullet. You have to think broad-range.”
He said one of the secrets to HR Adworks’ success is it can offer its clients a full range of recruitment-advertising services — everything from the placement of a print ad to designing and managing a multimedia recruitment campaign. As well, it also offers website-creation services and operates three job-posting websites.
“We’ve been contacting (former Target Media) customers and we’ve been getting a very good reception.”
Although HR Adworks is acquiring Target Media’s client list, it won’t be hiring its three employees (two full-time and one part-time) because it’s confident it will be able to handle the extra work with its existing staff of about 15 employees.
murray.mcneill@freepress.mb.ca