Cordant Group enters new markets through acquisition
It will also build on the success of Sugarman to further strengthen its reputation in the social care arena including the areas of fostering and adoption, and social work.
Sugarman will continue to operate as normal under the leadership of Tim Wheeler, Managing Director of the Sugarman Group, but will be underpinned by the support and shared services of the Cordant Group. Internal training programmes and an advanced IT infrastructure are just some of the benefits that will enhance the Sugarman candidate and client experience and intensify the agency's competitive position in its markets.
At the helm of the acquisition is Phillip Ullmann, CEO of Cordant Group, a family business which consists of three independent business divisions including recruitment and facilities management solutions. Ullmann said, "Cordant Group has an ambitious growth plan and a vision to be leaders in all sectors that we operate in. For us to achieve this goal we need to attract the best people and look after them. Sugarman's culture and people are a great match for the business and will add real strength to our offerings and growing success."
Tim Wheeler, managing director of the Sugarman Group added, “This is the perfect partnership which will further enhance the experience we offer to our clients, candidates and colleagues and will enable the Sugarman Group to grow and evolve our sector leading services”.
The acquisition comes the same time as Steven Kirkpatrick joins Cordant Group as the CEO of its recruitment business division. "This is a great time to be part of Cordant Group as the entire business is consistently growing and evolving delivering exciting new initiatives," said Kirkpatrick. "I look forward to working with the team to build on the successes and to take the recruitment division into new markets."
Sugarman will be the seventh recruitment agency under Cordant Group. Cordant Group, which has seen a 35% increase in turnover in the last four years, also owns Prime Time Recruitment, Premiere People, PMP Recruitment, Abacus Recruitment, Grosvenor Boston and Judy Fisher Associates, recruiting across a range of industries including industrial, warehousing and logistics, social care, sales, executive, oil & gas, engineering and technical, and food and retail.
A team at Clearwater, led by partner Marcus Archer, deal leader Natasha Price and analyst Mike So, advised Sugarman Group on the deal.
Archer said, “Sugarman has found an excellent home in the Cordant Group and with Cordant’s support the management team has a great opportunity to continue to accelerate the growth of the business. Sugarman also enables Cordant to gain a strategic foothold in the healthcare and education sectors. This deal demonstrates that there is a clear appetite from UK corporates to acquire good quality businesses with strong management teams in the UK market.”