Hays has sold the majority of its logistics division to a US private equity group as part of its plans to focus on becoming "a specialist recruitment and HR services business".

Platinum Equity paid £102.4m and under the agreement, Hays will continue to provide certain administrative services from shared UK facilities for up to nine months.

Chief executive of Hays Colin Matthews said that the company’s German logistics and US home delivery services were also being marketed for disposal.