Nottingham recruitment firm sold in seven-figure deal

Elizabeth Michael Associates, the Nottingham recruitment firm, has been sold to fellow city company Approach Personnel for an undisclosed seven figure sum.

Eizabeth Michael, founded in 1991, s administration, accountancy, customer services and contact centres, logistics, procurement, sales, business development and HR staff.

Founder John Hyde said: “For almost 30 years, I have always sought to emphasise the key values of honesty and integrity in professional dealings in business. We have enjoyed tremendous success and growth over the years at Elizabeth Michael and I firmly believe this is down to our keen desire to always maintain these core values in all our dealings with people – whether colleagues, customers or suppliers.

“Today the pressures in business and on people are even greater and in our consumer age ‘getting ahead’ is too often put above all else and maintaining good relationships. Short term advantage is usually fleeting. Instead, building a more solid, long term reputation for trustworthiness and reliability has always been my goal and our guiding values at Elizabeth Michael.

“I hope that the values we have sought to promote at Elizabeth Michael will carry forward with the new owners. Approach Personnel are a fantastic business and they have built a solid track record, and as such I am confident that the two businesses together will go from strength to strength.”

Approach Personnel specialises in recruitment in the construction, civil engineering, shopfitting, interiors and industrial sectors.

Alan Spalding, managing director of Approach Personnel, said: “I have known John Hyde for many years and the acquisition of such a fantastic business was an opportunity that myself and my business partner Adam Charlesworth were both delighted to complete. Approach has become a multi-million pound turnover business, now working out of a 4,300 sq ft building that we purchased in 2016 to facilitate our ambitious growth plans. We felt the time was right to add further to our portfolio and jumped at the chance to purchase such a great business and brand”.

Hyde added: “I would like to thank in particular the professional team who acted for me on the sale. Led by Tom Gray and Hannah Raven at Fraser Brown Solicitors and Neil South at Clayton & Brewill accountants, the support and advice I have received during the process has been tremendous. The sale process can be very difficult and fraught at times, but both Fraser Brown and Clayton & Brewill have provided keen, timely and commercial advice throughout and at critical periods, and crucially share the same values in business dealings which is very important to me.”

Fraser Brown corporate lawyer Tom Gray and assistant solicitor Hannah Raven advised John Hyde on the transaction.

Tom Gray, partner at Fraser Brown, said: “Elizabeth Michael Associates is a first-rate business with a tremendous reputation. Its name is a by-word for professionalism and reliability. In large part this is down to John Hyde. His drive and determination to uphold the highest standards in all professional dealings has imprinted itself upon this business and is in the DNA of its brand. It was an absolute pleasure to be associated with this transaction.”

Roger Harcourt at Shakespeare Martineau solicitors and Trevor Witts at APC Accountants also acted on the transaction advising Approach Personnel.