nGAGE acquires GCS Recruitment Specialists
nGAGE Specialist Recruitment has acquired GCS Recruitment Specialists, a technology-focussed recruitment business with operations in London, Reading, Dublin and New York.
Supporting the existing management in a buy-out from the founder Chris Bartlett, Tim Cook (Group CEO), commented, "This is what sets nGAGE apart; we can enable management to get their hands on the tiller by supporting their MBO whilst giving them all the benefits of being part of a larger group. Strategically, whilst the sector continues our move to balance the portfolio, it excitingly, starts our international adventures. New York is a very cool place to do business and Dublin clearly is a gateway to Europe regardless of what Brexit brings. I'm genuinely thrilled at this latest addition to the Group.”
GCS managing director, David Bloxham, added, "Tim's right - the nGAGE model was very attractive to us and we are very pleased that they have enabled us to deliver this MBO. nGAGE is a natural partner for GCS and will provide significant capital for expansion with both our UK and International businesses. The growth of the business under the guidance of our founder Chris Bartlett has been significant but this move will allow us to move into a different league. As a team this is our opportunity to double the size of GCS and achieve something very special."
Bloxham has been with GCS since 1996 when he joined as a graduate and he has been managing director of the business since August 2009, during this time GCS has grown to turnover of £32m with 80 staff.
Along with Bloxham, the MBO was supported by sales director, Lisa Forrester, and their senior management team all who continue with their roles.
Cook; nGAGE Group CFO, Andrew Burchall; and COO, Adam Herron, managed the transaction for nGAGE.
Cook said, “GCS has an outstanding track record built over more than 20 years. Its specialist technology focus sits perfectly in nGAGE’s professional services offering. In recent years the business has achieved significant growth, particularly in its international offices. We look forward to working with David and his team.”
Due diligence was carried out by RSM Corporate Finance.
Legal advice was provided by Mishcon de Reya LLP.
Boyes Turner LLP acted for Chris Bartlett.
Photo courtesy of Shutterstock.com