Thu, 25 Mar 2010 | MBO/MBI
A deal has been struck to save all jobs at Hexagon Human Capital, involving a management buy-out funded partly by Barclays Ventures.
The senior management group at the business formed an as yet unnamed holding company to buy the faltering business, 50 per cent of which is now the property of Barclays Ventures.
Chief of the newly formed holding company, Rob Walker, said that the management buyout took place quickly after the executive search and management provider fell into administration. The group will now include Archer Mathieson, Correlate Search, BIE and Euromedica. Oxygen will no longer be part of the group of firms.
A letter sent to employees last week by Walker stated, ‘I’m writing to reiterate the good news I spoke to you about earlier this week, the key point is that with the support Barclays Ventures from today onwards we have a secure and exciting new direction for the company that currently comprises the group.’
The letter continued, ‘Barclays Ventures is backing us financially and in return will take a 50% shareholding in the group which will de-list from AIM and become privately owned. This investment by Barclays Ventures is a clear sign of confidence, they share my belief that we have a great complementary business with fantastic market opportunities and highly talented people to exploit them.’
The wholesale business has an established trading history and has built up a strong reputation and a loyal customer base. Business is drawn from a wide demographic of clients with a good spread across different business sectors.
This is a unique opportunity to acquire a company specialising in luxury performance cycle clothing, utilising the finest specialist fabrics and cutting-edge construction techniques.
A leading internet-based provider of customisable and curated beauty box services. Over the last decade, the business has evolved from a premier subscription service to a leading internet-based provider of highly attractive and rapidly expanding beau...
WEB-BASED
11
|
Jul
|
Holiday letting agency acquires Cornish self-catering holiday specialist | BUSINESS SALE
Travel Chapter, a leading UK holiday letting agency, has ann...
11
|
Jul
|
Power services firm set to be acquired by US energy resilience group | BUSINESS SALE
The Wilmott Group Limited, a power services group with opera...
11
|
Jul
|
Dunfermline vehicle manufacturing services firm enters administration | ADMINISTRATION
A specialist manufacturing business based in Dunfermline has...
11
|
Jul
|
CubeMatch acquires professional services firm DVCP | BUSINESS SALE
Global change and transformation consultancy CubeMatch has c...
11
|
Jul
|
Dunfermline vehicle manufacturing services firm enters administration | ADMINISTRATION
A specialist manufacturing business based in Dunfermline has...
11
|
Jul
|
Power services firm set to be acquired by US energy resilience group | BUSINESS SALE
The Wilmott Group Limited, a power services group with opera...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
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.