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High profile transactions build Ryecroft Glenton’s recruitment industry presence

Ryecroft Glenton Corporate Finance (RGCF) has strengthened its position as one of the most active mid-market corporate finance advisory firms in the UK and international recruitment and staffing sector, having advised on a number of high profile transactions in the first half of the year.

These transactions included the sale of Kent-based Classic Education Ltd to AIM-listed Servoca Plc, which enabled Servoca Plc to enter a new market and expand its existing office network. 

Additionally, within the education staffing sector, RGCF advised the shareholders of North Yorkshire-based Just Teachers Ltd on the sale of a controlling stake in the c£16m turnover, five-location business, to Synarbor Group to support its expansion into new locations and markets. The acquisition was financed by the private equity firm Sovereign Capital and Lloyds Bank.

The team at RGCF also supported the shareholders of growing London-based staffing business, Amanda Smith Recruitment Ltd, by carrying out a full Strategic Review of the business prior to advising on its ultimate sale to Berry Recruitment Group.

The firm has also advised on two Management Buy Outs (MBO) within the sector for Project EMC, a national engineering and technical consultancy, and Kea Consultants, which is a successful executive search firm based in London.

Carl Swansbury (pictured), partner at Ryecroft Glenton Corporate Finance, said, “We have had a great first half in 2016, having advised on a number of interesting transactions involving private equity backed, UK-listed and overseas-listed acquirers.

“Our year to date has been extremely productive and continues to reinforce our position and reputation as one of the most active mid-market corporate finance advisory firms in the staffing and recruitment sector. The sector remains buoyant, as domestic and overseas trade buyers look to develop their existing offering and market position by acquiring businesses that give them access to a new sector, geography or client base.”

This trend looks likely to continue throughout the remainder of the year, as indicated by two recent transactions RGCF has advised upon, namely the acquisition of ReesDraperWright Ltd, by AIM-listed InterQuest Group Plc, and the £17.1m sale of MTrec Ltd to Japanese listed Trust Tech Inc, which is due to complete on the 30th August.

Swansbury added, “We have built a strong team at RGCF, which has enabled us to form close relationships with a large number of growing and established businesses across the sector, and means we are well placed to advise on change in ownership transactions, as and when such opportunities arise. The transactions we have delivered in the first half of the year have realised significant value for our clients, as well as for the other stakeholders involved, trade buyers, vendors, management teams and PE and VC investors included.”

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