Wednesday, July 31, 2019

News: Rotherham recruitment firm in MBO


The managing director at Industrial Personnel Limited has taken on the role of sole director after successfully concluding a management buy-out (MBO).

The leading independent provider of temporary and permanent recruitment services into engineering, manufacturing and logistics environments across Yorkshire, has undergone a change in the shareholding structure with MD Phillip Buckley, who previously owned 50% of the company, acquiring the rest of the shares to put the company into his sole ownership.

Since the formation of the company in 1995 Industrial Personnel has become Yorkshire's leading provider of temporary and permanent, skilled and semi-skilled blue-collar workers for industrial, commercial and technical roles for several of the region's largest and most prestigious engineering and manufacturing businesses.

The company has experienced significant growth in the past few years which is continuing in the current year and following completion of the buy-out the plan is to accelerate that growth, which includes building the infrastructure and management team required to take the business to the next level.

Phillip Buckley, managing director at Industrial Personnel Limited, said: "We are experiencing year-on-year success in the business as a result of a hard-working team and continued focus on relationship building with our clients and workforce. Our USP has always been our exceptional customer service, and it is this we intend to continually improve whilst expanding into other markets. We are now looking to open a new office in the West Yorkshire area which will cement the relationships we already have in that area and enable us to roll out our successful business model further afield. The future is very bright indeed."


Sheffield based dealmakers Castle Square Corporate Finance provided corporate finance advice to the leading negotiations on the deal structure, and successfully delivered the fundraising process on behalf of management.

Kevan Shaw and Patrick Lynch from the Castle Square team led on the deal, running a structured process which resulted in HSBC being selected to provide the necessary finance to complete the transaction.

Patrick Lynch, corporate finance executive at Castle Square, said: "Following several years of year-on-year revenue and profitability growth, it has been fantastic to have advised Phillip and the wider management team on a transaction that will provide a platform for the company's next stage of growth."

Freeths Sheffield based corporate team, led by Adrian Hackett and Eerik Kukebal, provided legal advice on the transaction, which included specialist input from Freeths Sheffield corporate tax, banking and employment teams.

Eerik Kukebal at Freeths said: "We are delighted to have worked with Castle Square and HSBC on this management Buy-Out. The objective of the transaction was achieved through effective collaboration and great teamwork of all the parties and allows the company to move to its next level of growth."

Following the structured debt fundraising process led by the Castle Square team, HSBC emerged as the preferred funding partner, providing the acquisition finance on the transaction alongside working capital facilities.

Chris Alsop, corporate banking relationship director at HSBC, said: "Industrial Personnel are a long-established niche service provider with an excellent management team. I am confident they will grow their market share even further over the next few years."

Supporting HSBC were, Keebles LLP Sheffield based corporate team lead by James Burdekin, with legal advice on the funding and Adam Ames from Shorts Chartered Accountants Sheffield office, provided financial due diligence advice.

Industrial Personnel Limited website

Images: UKSE


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