Recruitment firm acquires global legal specialist with OakNorth Bank support
A London-based recruitment firm has acquired a global business after securing finance from OakNorth Bank.
The business bank has provided a loan to Dartmouth Partners for the acquisition of recruitment specialist Pure.
Specialising in tax, legal, risk & compliance recruitment, Pure has offices in London, New York, Berlin, Hong Kong and Singapore.
The acquisition follows Literacy Capital’s investment into Dartmouth in June 2018 to support the expansion of its proposition and footprint.
Dartmouth’s CEO and founder, Logan Naidu, commented: “This is a very exciting development for the business and will help ensure that we maintain our pole positions within the specialist sectors that we operate in.
“Dartmouth and Pure complement one another well and with this partnership, we’ll be able to invest in growing both brands further.
“With this transaction, time was of the essence which is why we once again went to Deepesh and the team at OakNorth as we knew they’d be able to work with us to get the deal done in the time frame we needed it.”
Deepesh Thakrar, senior debt finance director at OakNorth, added: “Despite ongoing economic and political uncertainty, the UK recruitment industry has continued to grow, increasing by 11 percent in 2017-18.
“Dartmouth Partners has excelled over its peers with 30 percent year-on-year growth, so they are in a very strong position to take advantage of this exciting business opportunity.”
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