Cordant Group acquires Staffgroup
It employs 120 staff and has offices in eight countries in Europe and the USA.
Barnes said, “When I joined Cordant at the start of the year, one of my major ambitions for Professional Staffing was to establish a significant and mainstream presence within the IT and technology sector in the UK, Europe and the U.S. Today’s deal gives us a platform to do that.”
"The deal will bring major strategic benefits to both companies. It will enable Cordant to establish a mainstream presence for recruitment in the IT industry and also give its existing brands, in areas such as procurement engineering, banking and finance and executive search a gateway to new international markets through Staffgroup’s locations."
Paul Flynn stated, “Staffgroup will benefit from the financial backing and clout of Cordant Group, giving it significant new investment and resources to accelerate its growth plans.”
Mark Znowski added, “Both companies have committed to increasing their headcount significantly as part of the deal.”
Barnes further commented, “I’ve known Mark and Paul for over 17 years and watched with admiration as they have grown their business into a truly impressive operation. We have often talked about working together and when I joined Cordant, it became apparent that there was an immediate fit operationally and strategically, but also in terms of the personalities, the people and the culture. I am extremely excited about the opportunity that this deal offers and we will be making a further announcement soon about another significant development which adds even more to our portfolio of services.”
Steven Kirkpatrick, CEO of Cordant Recruitment, said, “We have made no bones about the fact that we want to be the number one recruiter in our specialisms both here in the UK and internationally, as well as the go to destination for talented recruitment professionals. This is a significant step to realising our ambitions and securing another significant foothold on the international recruitment stage.”
Professional Staffing is one of four divisions within Cordant Recruitment and focuses on recruiting professionally qualified employees, ranging from High-Level Executives to technical experts across the full project lifecycle. It encompass several of Cordant’s specialist consultancies including Cordant Technical & Engineering, Cordant Dynamic (Microsoft stack and Analytical recruitment), Cordant Procurement (recruiting within the procurement sector), Grosvenor Boston (compliance & risk specialism) and Grays Executive Search (a search and selection consultancy for board level and senior executives).
Deloitte Corporate Finance advised Cordant Group on the acquisition, led by partner Katie Folwell-Davies and supported by Sohail Ahmad, Robert Murray and Negar Afsarzadeh.
Law firm, Gateley, acted on behalf of Cordant on the acquisition. The team was headed up by corporate partner, Charles Glaskie, alongside corporate solicitor, Leigh Whittaker, senior associate in the banking team, James Benson, and trainee solicitor, Catherine Donnelly.