Member Article

Leeds public sector recruiter completes MBO

Leeds based public sector recruitment firm GatenbySanderson, has announced the completion of a management buy-out of the business from founder Graham Goodwin.

The buyout was funded by Primary Capital, a leading provider of private equity in the UK, management and Yorkshire Bank.

Joint managing partners, Mark Turner and Martin Tucker, will continue to lead the business, supported by the existing board members, David Kemsley, senior partner for interim leadership, Helen Oates, chief operating officer and Sam Ellis, Marketing Director.

Martin Tucker commented, “As a market leading business that has grown significantly in the last few years, we are delighted to complete this deal and have the opportunity to realise further expansion, be that greater sector depth, broader public services or rolling out new products as part of our technical innovation.

“We are incredibly fortunate, across the business, in having a very talented team with a heartfelt desire to grow faster and further.

“This deal puts that ambition directly into our own hands and we intend to make the most of it. Finding new talent is our first priority.”

Graham Goodwin stated, “It has been a fantastic journey establishing GatenbySanderson as a leader in its field, and one that emerged stronger from recession, but when a successful business achieves a certain size, then it’s good to recognise the time for someone else to pick up the reins and lead the business to its bigger potential.

“I’m very proud of the business we have built together and even prouder of the team I leave behind”

Alistair Armstrong and Oliver Melliss led the deal for Primary Capital. Alistair Armstrong continued, “GatenbySanderson is an excellent example of a truly differentiated executive resourcing firm. The business’s relentless focus on quality, its strong team-driven culture and impressive proprietary technology produce consistently outstanding results for its clients. Management have identified some compelling areas for further investment and innovation and we very much look forward to working with them to help the business achieve its ambitious growth plans”.

A team from Deloitte corporate finance advisory, led by Katie Folwell-Davies, advised Primary Capital on the acquisition.

Marcus Archer, partner at Clearwater International, who advised the shareholders of GatenbySanderson said: “Primary Capital’s investment in GatenbySanderson will allow the experienced management team the opportunity to explore new growth channels.

“With Primary’s expertise, the company will provide the perfect home for GatenbySanderson and we expect them to have continued success.

“Recruitment in the UK is undergoing a boom. With 69% of firms in 2014 reporting an increase in net fee income, recruitment has never been more attractive for private equity investment.”

GatenbySanderson’s management team was advised by law firm Gordons, led by James Fawcett, corporate finance advisers Sentio Partners, led by Andy Miller, and Deloitte’s tax team, led by Stephen Hall

This was posted in Bdaily's Members' News section by Clare Burnett .