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RGCF advises international staffing & HR company, Gi Group, on its acquisition of Encore Recruitment
RG Corporate Finance has advised Gi Group on its acquisition of Encore Personnel, strengthening its position as one of the world’s largest multinational staffing companies.
Encore, which was established more than 20 years ago, has a network of 11 branches and 22 managed service sites across the UK, and generates turnover of c.£94m will now become part of Gi Group, a major international player which operates in over 100 countries across the globe.
Gi Group is headquartered in Milan and employs in excess of 6000 people. Generating revenues of £3.2billion, it is the 16th largest recruitment and HR services company in the world.
Advising Gi Group on its acquisition were two North East England-based firms. Providing corporate finance advice was Carl Swansbury, Andrew Cameron, Grahame Maughan and Jonathan Delaney of RGCF, who identified Encore as a suitable strategic target for Gi Group, whilst also carrying out Financial and Tax Due Diligence. Legal advice to Gi Group was provided by Endeavour Partnership, led by Nik Tunley.
Thomas Kardos of Blackwood Capital Group also advised Gi Group.
The shareholders of Encore were advised by Provantage, led by Alex Thompson and David Browne, and law firm Brown Jacobson led by Nigel Blackwell, Vicky Tomlinson and Ruairi O’Grady.
Stefano Colli-Lanzi, CEO and president of Gi Group, said: “This latest acquisition allows us to consolidate our position as a leading provider of recruitment services to the UK’s driving, industrial, and manufacturing sectors. It will enable us to become even more competitive and in turn, strengthens our position as a global player in the recruitment sector.”
Pete Taylor, managing director of Encore Personnel, said: “It was always my preference that should Encore be acquired it would be by a world-class recruitment leader in our sector, that shared our vision and cultural values, I am pleased to say this is very evident with Gi Group.”
Carl Swansbury, Partner and Head of Corporate Finance at RGCF, said: “This is a significant acquisition for the UK recruitment and staffing sector and highlights the continued interest from international businesses looking to enter or strengthen their position in the UK market with value-adding bolt-on acquisitions.
“As M&A specialists in the UK and international human capital sector, we were very proud to support Gi Group in this acquisition. From our base in the North East we continue to be highly active in this industry, advising on acquisitions, management buyouts and disposals across the UK and, as is the case with Gi Group, working with international companies that have an interest in acquiring great staffing businesses in the UK.”
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Editors’ Notes:
RG has offices in Newcastle, Northumberland and North Tyneside with 14 partners. It delivers joined-up advice across six specialist services:
