PRESS RELEASE
Search Consultancy announces successful management buy out and
refinancing
Search
Consultancy, one of the UK’s largest recruitment firms with 13 offices
nationwide, is pleased to announce that CEO Grahame Caswell has successfully
completed a Management Buy Out of the business whilst securing new investment
from H2 Equity Partners.
Search was
established in Glasgow in 1987. The nationwide company now employs more than
650 people and has an annual turnover of approximately £180 million. Each year
Search assists thousands of job seekers in finding temporary and permanent work
across a range of industry sectors.
Debbie
Caswell, Managing Director of Search’s England business since 2007, has been
promoted to Chief Operating Officer and will join Stuart Dick, Finance
Director, on the board with Grahame.
Grahame, who
led the original acquisition of the business in 2000, is aiming to build on
Search’s strong market position and to deepen and expand the range of services
and specialisms it provides to its 3,300+ client base. The ambitious growth
plan focuses on a combination of increasing the number of consultants, further
improving the already wide UK coverage, and making selected bolt-on
acquisitions.
Commenting on
his plans following the MBO, Grahame said: “We intend to use this new
investment to accelerate our growth strategy, both from within our existing
network of offices across the UK, and also by making targeted investments in
new locations in order to better serve our customer base. It will also be important for us to stay at
the forefront of advances in technology and skills that will benefit our
candidates and clients.”
In order to
maximise the potential for growth, Search has completed the realignment of its
business into distinct UK vertical market channels: Construction, General and
Commercial Staffing, Medical & Care, Professional Services and Technical
and Engineering Services. Search has appointed five UK Managing Directors,
reporting to Debbie Caswell, to lead the business in each of those vertical
channels. Debbie said: “Alignment of the
business along national vertical lines will provide the ideal platform for our
outstanding team to drive the business forward on a UK-wide basis. Our deep sector expertise is core to our delivery
of outstanding recruitment services to clients and candidates, and the strength
of the Search brand gives us an already powerful market presence on which to
build.”
Patrick
Kalverboer of H2 Equity Partners commented on the acquisition: “H2 has built an
exceptional track record of acquiring, stabilising, strengthening and growing
fundamentally attractive businesses and we saw Search Consultancy as an
extremely attractive proposition. We are delighted to have completed the deal,
and look forward to working with Grahame and his team to further develop and
scale up the business in line with their ambitions.”
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Notes for editors
- Search Consultancy was established in Glasgow in 1987.
- Search employs over 650 staff in 13 offices across the UK: Aberdeen, Brighton, Crawley, Dundee, Dunfermline, Edinburgh, Glasgow, Inverness, Leeds, Leicester, Liverpool, Manchester and Sheffield.
- Search provides specialist recruitment services across a diverse range of specialist markets (organised into vertical market clusters) including Accountancy & Finance, Aviation, Call & Contact Centre, Construction, Doctors, Driving, Energy, Engineering, Facilities Management, Financial Services, Healthcare, Hospitality & Catering, HR & Development, Industrial, Insurance, IT Digital & Change, Legal, Marketing, Medical, Nursing, Office Services, Oil & Gas, Rail, Sales, Scientific, Supply Chain, Social Care.
- Search placed more than 9,500 permanent candidates in 2016.
- Search, on average, supplies approximately 6,000 temporary workers on a weekly basis.
- Search was named as Recruitment Agency of the Year - Large (250+ Employees) at the Recruiter Awards 2017
- Search was the first UK recruitment agency to achieve Investors in People Platinum status.
For further
information please contact:
Rhona Deb
Marketing
Delivery Manager
Search
Consultancy
Tel: 0141 227
3426
Mobile: 07810
716 904
Email:
rhona.deb@search.co.uk