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29th January 2024 

Ref: PSR Group

Following a strategic review of its’ operations ISS Labour Group Holdings has taken the decision to exit from its investment in PSR Group, which comprises several non-construction/rail related recruitment businesses including PCN, Novello and SYK.
This will allow the Group to focus on its core rail and construction industry businesses which are operated through PSR Staffing Solutions and Infrastructure Support Solutions Ltd who remain unaffected by this decision.

PSR Group Limited, an intermediate holding company, has filed a Notice of Intent to appoint Administrators and the senior management team are working with the proposed Administrators to explore the potential disposal of these non-core businesses. Solvent disposals are currently being considered.

PSR Staffing Solutions (trading as PSR Solutions) was officially separated from the PSR Group in August 2023 when both businesses were acquired by ISS Labour Group Holdings in two separate transactions.

As a result, PSR Staffing Solutions are not affected by any changes within PSR Group.

The structural change implemented last year has enabled PSR Staffing Solutions to focus all efforts on their core market putting them in a stronger position financially for growth and development, whilst reinforcing their commitment to their clients.
Importantly, the changes within PSR Group will not impact the PSR Solutions team, or its clients or candidates. Instead, it will allow for increased activity and investment in the core business.

Any queries in relation to this communication should be directed to:
ISS Labour Group: Nicki Sunderland. Central Services Director n.sunderland@isslabour.co.uk
PSR Staffing Solutions: Dominique Dixon. Chief Marketing Officer ddixon@psrsolutions.co.uk


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