Jarell Group acquires Nova Recruitment Services
Nova Recruitment Services Limited, specialising in industrial and technical recruitment throughout the Midlands, has been acquired by Birmingham-headquartered Jarell Group.
The acquisition, completed with support from a multi-million pound funding deal from HSBC, will add more than 150 new clients to Jarell’s portfolio and will go on to create numerous new jobs in recruitment and training within the Midlands.
Based in Dudley and Birmingham, Nova was identified by Jarell as an ideal acquisition as part of a strategic and continued growth plan throughout the Midlands region. Combining both recruitment and training services, Nova employs in excess of 200 staff and delivers commercial training to 100s of Midland’s based businesses annually.
Richard Sobol, CEO of the Jarell Group, commented, “Nova Recruitment Limited, are very much an ideal fit for us as we look to expand and we are confident they will make a great addition to our group of companies. Nova are a business I have been in competition with for nearly 30 years and a business I am thrilled to add to our growing group of companies”.
James Cronin, group commercial director at Jarell Group, added, “This acquisition is a real sign of intent for the Jarell Group at the start of 2018. Following three hugely successful acquisitions in the last 18 months, we plan to use the acquisition of Nova Recruitment Services as a platform for up to 6 further purchases across 2018. I would welcome the opportunity to speak with anyone considering selling their business or senior recruitment specialist looking to take their next step into business management and ownership”.
Birmingham-based accountancy firm Michael Duffy Partnership (MDP), provided the lead advisory role for the acquisition and assisted in preparing the funding package for presentation to HSBC. Greg Emms and the legal team at Emms Gilmore and Liberson, also based in Birmingham, provided the legal support to complete this deal.
Photo courtesy of Shutterstock.com