Shaw & Co advise Hastings-based Sammons Recruitment Group on major the acquisition of two recruitment businesses.
The Hastings-based Sammons Recruitment Group has acquired IT recruitment experts Brightred and generalist recruitment consultancy On Track Recruitment.
Bristol-based corporate finance specialists Shaw & Co advised Sammons on the deal which is part of a wider ‘buy and build’ strategy that will enable Sammons to create a much larger business, while also moving into new markets and extending the breadth of its offering to both clients and candidates alike.
As well assisting with the securing of funding, Shaw & Co advised Sammons on its overall acquisition strategy. Sammons, which has four offices in Hastings, Basildon, Eastbourne and London, now has over 30 staff based across the South East.
Sammons’ wider strategy is to build its offering through the acquisition of businesses with shared values and a strong focus on customer service excellence. Buckinghamshire-based Brightred significantly deepens the Sammons service provision in the key IT sector, while Hampshire-based On Track brings on board a highly successful recruitment team in a key region.
Established in 1957, Sammons Recruitment Group comprises Sammons Pensions Recruitment, which specialises in recruiting for the occupational pensions industry, and generalist recruitment consultancy Sammons Recruitment Solutions, which works across a variety of sectors including professional services, local government, healthcare providers and SMEs.
Sammons was acquired by father and daughter team Martyn and Harriet Smith in November 2019. Harriet Smith, Sammons CEO, said: “As companies embrace the change driven by Covid-19, there has never been a better time to both broaden and deepen the recruitment offering of Sammons. We’re executing on our strategic growth plan through attracting highly complementary businesses and market-leading talent to meet the demands of our current and future clients.”
Colin Burns, Director – Business Funding, Shaw & Co, said: “We ran a competitive marketing process across a wide variety of traditional and alternative lenders to find Sammons the best possible deal which would provide them with the right funding for the acquisitions. The deal demonstrates that there are certainly a number of viable financing options out there for any SME looking to fund their company’s future development and expansion.”
Legal support on the deal was provided by Gaby Hardwicke Solicitors, and accounting and tax support by Swindells.
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