Eximius’ financial services and legal recruitment teams sold to management
Eximius has completed two corporate transactions which it says will see the business enter a new phase of development.
Eximius’ financial services and legal recruitment teams, based in London and Hong Kong, were sold by co-founders Nick Stevens and Ed Stevens to management. Eximius’ energy team was acquired by London-based AVA Energy.
Nick Harrington, previously managing director of the financial and legal teams, led the MBO and will be the new Eximius CEO moving forward. He commented, “Ed and Nick have worked exceptionally hard over the past eight years to build a market leading recruitment business. This is a tremendously exciting time for Eximius and the management team and gives us the opportunity to grow the business further.”
AVA Energy CEO, Julian Morrison, said, “Merging two thoroughbred energy recruitment businesses gives us a real opportunity to drive growth in the post oil crash energy recruitment market. We are thrilled about the opportunity this offers the members of the AVA and Eximius Energy teams and look forward to taking the AVA Energy and Eximius Energy brands to new heights”.
Nick Stevens and Ed Stevens will retain non-executive director roles at Eximius.
They released a joint statement, “This change has been part of the Eximius strategy for some time and is a progressive and exciting development. We wish Nick, Julian and the teams the best of luck and look forward to continuing to work with them to ensure the success of their businesses.”
Fladgate provided the legal advice to Nick and Ed Stevens, led by corporate partner Ian Brent, who specialises in the sale of recruitment businesses. Baker & Mackenzie advised AVA Energy. Michael Harte of Bartholomew Gold advised Nick Harrington and the MBO team.