Fri, 29 Nov 2024 | MBO/MBI
Cardiff-based recruitment company Recolution Group has undergone a management buy-in.
The group has announced a change of leadership at board level which sees founding director Duncan Powell exit the business after 15 years of service.
The Recolution Group, with 65 staff across offices in Cardiff, Barcelona and the Netherlands, recruits middle management and executive hires across commercial, financial services, legal, SAP, Defence, technology and engineering sectors with a global customer base including private and public sector organisations.
The company's brands include Yolk Recruitment, City Executive Search, Conexus DX and Meritus Talent.
Founded by co-founders Dale Williams and Duncan Powell in 2009, the group has historically concentrated on permanent recruitment. It has grown annually year on year to a £20 million turnover company. The group, in recent years, has accelerated growth within its rapidly growing European contract arm which has created the foundations to reach £50 million revenues by 2029.
On exiting the business, Powell said: "In 2009, Dale and I set out to shake up the recruitment industry by establishing our first brand: Yolk Recruitment. For 15 years, we overcame every obstacle that came our way including the financial crisis, geo-political and economic volatility and of course Covid. I am extremely proud to be able to exit the business at its strongest point in history and leave knowing that the group is in expert hands."
On introducing the terms of the management buy-in and Powell's exit, CEO Williams said: "For the past three years, Pavan Arora in his role as MD of Yolk Recruitment has excelled in establishing a formidable structure to take us to new heights and I am delighted to welcome him into the role of chief operating officer for our group. Kevin Evans, CFO, has been with the group for 10 years and has been influential in establishing the financial rigour and governance required to underpin our growth aspirations. The completion of the buy-in solidifies their commitment to establishing the Recolution Group as the largest and most successful Welsh recruitment group."
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