RSM Tenon advises on acquisition of Atlan Resource Solutions Limited
Advantage Resourcing, and its operating company Advantage Technical Resourcing Limited, has announced the acquisition of Atlan Resource Solutions Limited in a deal advised on by RSM Tenon Corporate Finance. The value of the transaction remains confidential.
Advantage Resourcing is one of the worlds largest staffing, technical recruitment and professional services companies. Its UK based operating company, Basingstoke based ATR , provides a comprehensive range of recruitment solutions to companies operating within the technical and engineering sectors.
In summer of 2009 Advantage Technical Resourcings UK Managing Director, Simon Trippick and Finance Director Paul Day began considering the strategic options for the UK business and, having decided to seek growth by acquisition, RSM Tenon were appointed to assist in this process.
The RSM Tenon team, led by Andy Breeze and Carl Swansbury approached Hampshire based Atlan, which was seen as an ideal fit. Atlan is UK based technical staffing and recruitment business and offers similar recruitment solutions to Advantage with an additional market focus on key verticals and a significant managed hosting operations.
Commenting on the deal Simon Trippick said We are delighted to have completed the purchase of Atlan and are confident that the complementary skills of the respective management teams will ensure a very successful future for the combined business.
Jim Klauber, President of Advantage Technical Resourcing, added, The acquisition of Atlan is part of our global commitment to enhancing our technical staffing, recruitment and professional services offerings.
Carl Swansbury, corporate finance manager at RSM Tenon based in Nottingham added This transaction makes sense to both businesses. It enables Advantage to continue to grow its interests in related markets and provides the opportunity for further expansion moving forward. At the same time the deal structure agreed meets the requirements of the Atlan team who will continue to play key roles in taking Atlan from strength to strength. At times, negotiations were challenging, but the flexibility displayed by all parties ensured the deal was completed, and we were delighted to play our role in that process.
Osborne Clarke handled the legal advice for the acquirers, which was funded jointly by the companys parent company and Lloyds TSB. Ernst & Young provided financial due diligence for ATR. Rickitt Mitchell Corporate Finance advised the vendors on the transaction. Legal advice for the vendors was provided by Halliwells LLP.Charles Abadie, CEO of Advantage Technical Resources in Japan will be a keynote speaker at this years World Leaders in Recruitment Conference. Being held in London on September 8th.