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CareerBuilder acquires Oil and Gas Job Search.com

CareerBuilder acquires Oil and Gas Job Search.com

Online job portal Oil and Gas Job Search.com has been acquired by CareerBuilder LLC, the largest job site in the world, in a deal advised on by international investment bank Altium for an undisclosed sum.

Stockport-based Oil and Gas Job Search.com specialises in the oil and gas industry and has a database of more than 550,000 industry professionals across the globe.  The company, which was founded in 2000 is led by chief executive Duncan Freer and has recently launched Mining Job Search.com to address this adjacent high growth market. 

CareerBuilder is owned by US media giants Gannett Co., Tribune Company and The McClatchy Company. The deal will enable Oil and Gas Job Search.com to strengthen its worldwide presence and expand its footprint in North America.

The shareholders of Oil and Gas Job Search.com were advised on the deal by a team from the Manchester office of Altium, led by managing director Simon Lord and director Andy Clarke and supported by Adam Sivner.

Andy Clarke, director at Altium, said: “As an e-commerce business in the global energy sector, Oil and Gas Job Search.com is perfectly positioned for organic growth. Duncan and his management team have created a platform which is trusted by recruiters, energy companies and employees in the sector.

“This deal offers the business increased access to the North American market as it looks to further grow its global footprint.”

Duncan Freer, chief executive at Oil and Gas Job Search.com, said: “Our clients value global reach as they seek out the best talent in the oil and gas sector. Joining the CareerBuilder network offers us the chance to accelerate our growth and continue building relationships in key markets across the world.  It moves Oil and Gas Job Search.com on to a new level and this is a hugely exciting time for our clients and staff.” 

The transaction is the third major deal in the energy sector advised on by Altium’s Manchester office in the past year. It follows LDC’s &pound85 million acquisition of Manchester-based offshore pump and valve manufacturer Bifold Group in April 2012 and the &pound140 million management buyout of Warrington-based oil and gas recruitment specialist Fircroft, backed by Equistone Partners, last June. 

Oil and Gas Job Search.com received legal advice on the transaction from Rob Buckley and Jan Winstanley from the Manchester office of Kuits.

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