Sights set on scaling up for Leeds recruiter as management buyout completes
The co-founders of a Leeds recruiter have completed a management buyout as they aim for the “next stage” of scaling up the firm.
Terry Batty and Tom Fox, who established Clear Edge Search & Selection Ltd in 2011, completed the management buyout of the Fast Moving Consumer Goods (FMCG) iGaming and technology sectors specialist staffing business.
Batty and Fox acquired the shareholding of corporate shareholder CSG to now own 100 per cent of the company.
CSG supported the establishment of Clear Edge by providing the co-founders with capital investment along with training, IT, accountancy, finance and back office services.
This has enabled the business to build its presence in the consumer goods and digital sectors, while Clear Edge has developed particular market expertise in the food, drinks, consumer durables and health, beauty and household product sectors.
Clear Edge has not only grown, but also built in-house accountancy, finance and compliance capabilities, facilitating the opportunity for the MBO.
The MBO has also seen Clear Edge expand into the sports betting and iGaming sectors and established a dedicated division, Clear Edge Betting & Gaming to service such markets.
Terry Batty, director of Clear Edge, said: “The support provided by CSG has been an invaluable part of the development of the business and has enabled our team to focus on delivering world class services to our clients and candidates.”
He continued: “We have enjoyed positive growth in our core markets as FMCG continues to be a cornerstone of the UK economy and we look forward to the next stage of our scale-up journey.”
Wayne Underwood, one of the co-owners of CSG, said: The investment and guidance we have provided Clear Edge created the fundamental building blocks required to establish and grow the business and we are proud of the progress the business has made.“
He continued: “As a result, we are confident that the business is now in a position to stand independently under the effective leadership and ownership of Terry and Tom.”
Ben Riley, another co-owner of CSG, said: “This MBO enables Clear Edge to now follow its own path, and the investment and support we have provided over the years has been a huge success, proving to be mutually beneficial.”
He finished by saying: “It is an exciting time for both businesses as we continue to invest and grow. We sincerely wish Clear Edge continued success and we will remain in close contact and available to offer help if ever required.”
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