Mon, 02 Dec 2024 | BUSINESS SALE
Welsh recruitment group Hoop Recruitment has transitioned to employee ownership. That means the company will now be owned by its around 40 members of staff via an employee ownership trust (EOT).
Formed in 2016, the £20 million turnover business has offices in Cardiff and Swansea. It specialises in recruiting for the nursing, social care, social work, education, HR and professional services sectors. It has clients in the private, public and third sectors.
Founders Paul Lewis and Hywel Roberts met when they worked together at another recruitment agency. Both left to pursue other careers but kept in touch and eventually decided to create a recruiter that was customer/client focused, rather than profit focused.
Lewis and Roberts believe that the EOT model is critical for the future success of the business.
“At Hoop we pride ourselves on doing things differently,” Lewis said. “We started the business with a clear mission – to create a recruitment agency that genuinely puts people first, breaking away from the industry’s sometimes challenging reputation. This change has given our team a real stake in the future of Hoop and aligning with our commitment to building a business based on trust, collaboration, and long-term thinking.”
He added that being employee owned means creating a company full of business owners.
“We are now massive advocates for EOTs and using this business model we hope to expand and make Hoop one of the largest independently owned business in Wales and create a business that we are even more proud of, a business that gives back as much as it can to its clients and staff alike,” he said.
There are no plans for either founder to leave the business, with Lewis remaining as the CEO and Roberts as the COO and both will remain on the company board. The new board of directors comprises of Lewis and Roberts, as well as Rhian Smith, Hoop’s Director of Nursing, Sarah Leigh, Head of Social Work, Luisa Gale, Hoop’s HR Manager, and Blair Driscoll, Director of Education at the company.
Acuity provided legal advice to Hoop Recruitment on its EOT transition, with BPU advising on its valuation. The business was also supported by Social Business Wales.
Find out more about the increasing popularity of employee ownership
The company is a widely regarded and highly respected training business, specialising in offering industrial plant, civil engineering and health and safety training, with courses ranging from CPD through to managerial training.
Reputable service provider specialising in the LMS market for four years. Develops and supplies a highly innovative LMS solution that satisfies the training requirements of organisations across multiple sectors.
A retailer that sources a wide range of vehicles and then sells them on to customers at discounted prices. The dealership specializes in high-performance, prestige and luxury cars, ranging from Audis and Range Rovers to high-calibre Porsches.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.