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Synergy Group transforms fortunes after HCIG acquisition

Synergy Group transforms fortunes after HCIG acquisition

Synergy Group, who specialise in public and private sector recruitment across a variety of niche markets, has dramatically reversed its fortunes following its acquisition by Human Capital Investment Group (HCIG).

Before the acquisition in April 2011, Synergy Group was struggling to break even, often experiencing monthly losses.  Under the direction of new CEO Philip Poole, Synergy Group has gone from making monthly losses at the point of acquisition, to one of six figure monthly profits in just eight months. A new feeling of optimism and positivity about the future has also boosted morale for consultants, resulting in record billings for many.

CEO of Synergy Group, Phillip Poole, comments: “Our much-increased profits coupled with increased financial backing have brought huge growth opportunities to the business, which is extremely exciting.  There is a much-refreshed business development vigour, with more sophisticated service offerings such as Master Vendor and RPO products now open to clients.

“Direct access to the HCIG Board also gives us the benefit of their entrepreneurial experience and success, which has been essential in taking on a more dynamic approach to changes in the market.”

This turnaround from the brink of bankruptcy is not unusual for a company acquired by HCIG, who specialise in buying staffing businesses, and then streamlining back office efficiencies and strategising growth plans to generate high growth.

COO of HCIG Adam Herron comments: “Synergy was always going to be a good fit for our group due to the aligned market sectors and a shared ambition to build a quality focused business, offering excellent service to our customers.

“The platform we have built within HCIG, with its centralised operations functions, meant that as soon as we took control of Synergy, we were able to remove nearly all of their non-sales costs. This transformed the business overnight and meant that a former loss-making business will do a seven figure net profit this year.”

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