Aussie Recruiter With 150m Warchest Sets Sights On UK
Australian Recruiter with 150m Warchest Sets Sights On UK
An Australian Recruiter who cut his teeth in the UK is making a big splash overseas and it wont be long before his investment vehicle comes rolling into the UK writes David Head.
Jeff Jones learnt his trade with the Eurolink Group in the late eighties and now he has eyes on a substantial purchase in the UK. I spoke to him at his office in Melbourne where he is currently stockpiling shares in the Australian listed recruiter, Rubicor Group.
Jones was responsible for establishing Eurolinks Australian operation before setting up and selling his own consultancy to Hamilton James & Bruce a listed recruitment competitor. His spectacular return to the recruitment arena came late last year when together with Angus Mason they picked up the Australasian business of Westaff Inc for around 12 million.
The Westaff operation closely fitted the Humanis ideal of a recruitment business, with strong stable management, and having major market share in specific verticals, that can eventually be consolidated into the Humanis Group.
Jones is looking for iconic, vertically focused UK brands with the emphasis on strong management. His stated intention is to have a brand that is in the top percentile of their respective market sector, allowing the relevant management to stay focused on their sector and to push the business forward, both organically and by acquisition, with the Humanis Group providing back office and strategic expertise.
He has already been to the UK this year and discussions have been had now he is ready to turn talk into transactions, and will be returning here in the very near future.
The stake (approximately 10%) Humanis has acquired in Rubicor is a clear signal of his intention, Rubicor has 23 operating businesses in 46 offices and it would be a sizeable deal.
Jones has funding in place and says he will make a quick decision for anyone with realistic valuations, then he casually slips in that he will consider a deal going up to 150 million, but says Humanis will not enter a bidding war.
Hes approachable and says he is happy for Recruitment International to pass on his email. (In complete confidence).
Watch this space as they say!