Outsauce announces growth figures & secures new investment
The additional investment has been agreed with Energize Capital. The private equity business purchased a controlling interest in Outsauce in January 2012 – kick-starting a business transformation process that has seen gross turnover increase from £74 million to £105 million.
Outsauce is currently leading Gear Up For Growth, a cross-industry initiative to assist recruitment entrepreneurs seeking to expand in 2014. With many agencies expecting double digit growth this year, Outsauce is also preparing to meet increased demand and scale services for existing customers.
The additional capital will enable the business to make significant investments in its IT infrastructure to improve client service and enable it to capitalise on major contract opportunities.
Miles Lloyd, CEO of Outsauce, said, “This is tremendous news for Outsauce as we pass the midway point of our four year growth strategy. The additional investment will enable us to take advantage of some large business gains won recently as well as new opportunities as they arise. It also coincides perfectly with our Gear Up For Growth initiative and proves we practice what we preach when properly applied, investment is one of the most important tools for businesses to enhance their services, consolidate growth and pursue continued expansion.”
Jeremy Carr, managing director of Energize Capital, said, “The Outsauce team led by Miles Lloyd has really transformed the business. In the circumstances the growth to payrolling over 5,000 workers per week is extraordinary. Recruitment agencies are expecting double digit growth this year and the final piece of Outsauce’s jigsaw is the investment in the infrastructure so it can keep up with its clients. I am very excited about the future prospects for Outsauce, hence the further investment.”
& lsquo;Gear Up For Growth’ from Outsauce brings together leading recruitment industry providers, including Brabners LLP, Saffrey Champness, RIDA and the Elite Recruitment Network, to deliver a comprehensive guide to growth in 2014 – available free to recruiters at: http://outsauce.net/gearupforgrowth.