North West recruitment firm Euroforce People Solutions undergoes Management Buy Out
Managing Director, Simon Hayton completed a management buyout of the recruitment business based in Bolton on 21 October 2016.
The business – which was established in 2006 by Patrick McBride, has a turnover in excess of £10.5 million and specialises in supplying highly skilled European labour into the furniture, textile and automotive sectors, amongst others.
Euroforce People Solutions provides labour to an array of well-known brands, including many furniture and vehicle manufactures, and in 2015 was recognised in the top 20 of the ‘Recruiter Hot 100 List’.
Patrick McBride, who exits the business with other long standing directors, Liam McBride and Brian Assen, commented on the transaction: “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.”
Simon Hayton, Managing Director 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.”
Paul Stringer, Corporate Finance Partner at Cowgill Holloway LLP, advisor to the exiting shareholders added: “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.”
Chris Ross, Partner at Mills & Reeve added: “Euroforce People Solutions has grown into an industry leader under an excellent management team. The buyout will ensure its continued success and we wish Simon and the team all the best for the future.”
Paul Stringer (Cowgill Holloway) and Chris Ross (Mills & Reeve) advised the exiting shareholders, with Mark Jenkinson (Plutus) and Peter Bibby (AB Corporate) advising Simon Hayton.
The information was correct at time of publishing but may now be out of date.