Partner Article

North East law firm assists US takeover of recruitment agency

A Newcastle-based law firm has helped a multi-million dollar US company to snap up a UK recruitment agency.

Square One Law assisted in the deal which saw Corporate Resource Service (CRS), a $800m turnover technology, staffing and consulting services firm, acquire Flex Recruitment Plus Limited (FlexPlus), based in Hinckley, Leicestershire.

FlexPlus is a national staffing and technology business specialising in the placement of temporary, contract and permanent candidates into the logistics, fulfilment, warehousing and retail sectors.

Following the successful completion of the sale to CRS, the founders and shareholders of FlexPlus will remain with the business and will be working alongside CRS to help strengthen and deliver FlexPlus’ service capabilities to new and existing clients.

Mark Levine, chief operating officer for CRS, said: “We are very excited with the addition of FlexPlus to our team.

“This acquisition will act as our platform company in Europe and we will be utilising the existing management team at FlexPlus to build our European business both organically and through acquisitions.”

Ryecroft Glenton Corporate Finance (RGCF) was instrumental in executing the first UK acquisition for CRS as director Carl Swansbury identified FlexPlus as a suitable acquisition target.

RGCF worked closely with Square One Law to complete the transaction.

James Bryce, corporate partner at Square One, added: “Having worked with the management team at FlexPlus over a number of years it was great to be part of the team delivering this transaction, which represents a fantastic opportunity for both the management of FlexPlus and for CRS to build the UK business.”

Adrian Hobbs, Flex Plus’ managing director said: “The strategic and cultural fit of Flex Plus and CRS is ideal.

“We have grown Flex Plus considerably and profitably over recent years, and believe that the future growth of the business is best achieved in partnership with a larger business that can help us diversify into new locations and sectors.”

This was posted in Bdaily's Members' News section by Martin Walker .