When a specialist recruitment business grew to £103m turnover, its owners asked us to sell the business to a new owner.
After 20 years building and growing recruitment specialist Passionate About People to over £103 million in turnover, the founding shareholders decided it was time to sell the business and open up the next exciting chapter for everyone. Its owners approached us to determine the best strategy to deliver the maximum value on exit.
We were also asked to find the best potential buyers for each business element and to structure the transaction in a tax efficient way to maximise net returns to shareholders.
Working with Passionate About People’s management team, we helped analyse the key value drivers with the business. We identified that a two-stage disposal would deliver the greatest value to shareholders building a disposal process accordingly.
Stage one of the process was to exit Omega Engineering Services ('OES') to Belcan LLC. OES supplies engineering services to key clients such as GE where Belcan is a global supplier of engineering services to, amongst others, the aerospace sector who saw strategic value in the customer relationships held by OES.
With Omega Recruitment Group and Datum RPO remaining in the group, the offering was significantly easier for a wider buyer audience to acquire. The shareholders were therefore better positioned to run a process across a buyer pool that could attribute strategic value across the entire business.
Through our lead advisory, the transactions delivered both value and an exit for the Passionate About People founders, all of whom were delighted to reach the end of a 20 year journey on a high.
"In October 2017 I spent many hours meeting and presenting Passionate About People and our plans to corporate advisors across the sector. Key to the partnership I sought was experience in the sector, investment of time, understanding of the business, shareholders culture and a clear plan for the future strategy. I instantly gelled with Jim Shaw as being the best person to support and deliver the next phase of our strategy. His understanding of the sector, knowledge of the buying community, trust, integrity and time he committed was fantastic. All the way through the process Jim and his great team including Myles Hamilton were tenacious, delivering easy to understand communication to the shareholders. It’s a challenging process and Shaw & Co really delivered right up to, and through the last hurdle."
Jim & Myles you should be proud of what you have achieved, and are achieving, in the corporate advisory sector. A massive thank you to you all for maximising shareholder value - yet being fair to all parties."
We advised The Safeguarding Company (TSC) on its sale to Tes, a leading international provider of digital solutions to schools.