Recruiter acquired by Japanese firm
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Advised on deals worth £300m in the first half of 2017
Wrexham-based recruitment provider, gap personnel group, is to be acquired by Trust Tech, a Japanese-listed staffing company.
With North West offices in Manchester, Blackburn, Crewe, Liverpool, Preston and Warrington, gap personnel group is one of the top five privately-owned, independent blue collar recruitment businesses in Britain.
gap personnel group, was founded by Gary Dewhurst, had a turnover of around £136m and an adjusted EBITDA forecast for its financial year ending March, 2018, of £4.5m.
It owns and operates a portfolio of companies, which provide temporary and permanent staffing and training solutions.
With 45 locations across the UK, the group employs 240 people and covers more than two million shifts for more than 1,500 companies each year.
gap personnel group’s existing management team, led by group managing director and shareholder Mark Roberts, will remain with the business. They will work closely with Trust Tech to further expand the group across the UK and Europe.
As part of the investment, Trust Tech Inc. will provide significant growth capital to enable the group to grow further, both organically and through an enhanced acquisition programme.
Advising on the acquisition, on behalf of gap personnel group, is Carl Swansbury, partner at Ryecroft Glenton Corporate Finance, supported by Alex Simpson.
The value of the acquisition has not been disclosed.
Tax advice is being provided by Ryecroft Glenton’s Simon Hopwood and Charlie Burton. Legal advice is being provided by Simon Herbert from Bevan Rose Solicitors.
Trust Tech is being advised by PwC Advisory LLC and Osborne Clarke.
Gary Dewhurst, chief executive and founder of gap personnel group, said: “This will be an important inward investment, which endorses the high regard in which the UK is held by international companies and the confidence they have in the future of this market.”
Yutaka Nishida, president and representative director of Trust Tech, said: “Trust Tech aims to encourage growth and revitalisation of the economy globally through our primary staffing business in engineering, manufacturing and industrial fields.”
