Thu, 03 Nov 2016 | MBO/MBI
A Bolton-based recruitment specialist with a turnover of more than £10 million a year has undergone a management buyout (MBO).
Euroforce People Solutions, which specialises in supplying workers to the furniture, textiles and automotive sectors, has been bought out by managing director Simon Hayton. The firm works with a number of well-known brands and in 2015 was recognised in the top 20 of the ‘Recruiter Hot 100 List’.
Patrick McBride, who founded Euroforce in 2006, exits the business alongside two other directors, Liam McBride and Brian Assen. The MBO was completed on 21 October 2016.
Simon Hayton said: “I was delighted to have the opportunity to complete this MBO of the business - I very much look forward to continuing to build on the recent historical success of the business.”
Patrick McBride said: “We wish Simon the very best of luck and hope that the success we’ve enjoyed together continues as he implements his plans to grow the business further. I have every confidence that he’ll continue to do well.”
Paul Stringer, corporate finance partner at Cowgill Holloway LLP, which advised on the MBO, said: “We were delighted to have been able to assist the shareholders in achieving their exit.
“Having met Patrick and Euroforce People Solutions around three years ago, it was clear to see it was a good quality business with a strong team. We are confident that Simon will continue to lead the business to greater success in the future.”
Find a recruitment business for sale.
This company specialises in supplying the highest quality natural stone products, offering a complete turnkey solution to its customers from sourcing, through to processing, design and final distribution and delivery. Offers invited.
RELOCATABLE
Precision Engineering Business for sale operating with a modern, well equipped machine shop, offering Engineering Development Modelling (EDM), CNC turning & milling, grinding, boring and fitting. Offers invited.
LEASEHOLD
High quality practice with strong middle management on the market for the first time. Established: 25 to 30 years. Strong middle-tier management to support acquirer throughout the transition period and on an ongoing basis. Locations: Cheshire, Mersey...
|
20
|
|
Sep
|
Thomas Cook seeking 'last-ditch' fire sale | BUSINESS SALE
Thomas Cook Group is reportedly trying to piece together a l...
|
19
|
|
Sep
|
Smith & Williamson and Tilney to merge | MERGER
After revealing in August this year that talks were in place...
|
18
|
|
Sep
|
Infrastructure investment manager takes stake in LJLA | BUSINESS SALE
Infrastructure investment management group, Ancala Partners,...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources