Fircroft family sells oil & gas jobs website
STOCKPORT-based job website Oil and Gas Job Search.com has been acquired by US-based CareerBuilder, billed as the largest job site in the world.
The deal represents a second windfall for the Johnson family who sold a stake in Warrington-based oil and gas recruitment company Fircroft last year to private equity firm Equistone in a £140m deal.
Other shareholders include chief executive Duncan Freer, Fircroft’s finance director Michael Cohen, and Ronald Jones. The value of the sale was not disclosed, but is understood to be north of £20m.
CareerBuilder is owned by US media giants Gannett Co, Tribune Company and The McClatchy Company. In a statement the company said the deal will enable it to strengthen its worldwide presence and expand its footprint in North America.
Duncan Freer said: “Our clients value global reach as they seek out the best talent in the oil and gas sector. Joining the CareerBuilder network offers us the chance to accelerate our growth and continue building relationships in key markets across the world. It moves Oil and Gas Job Search.com on to a new level and this is a hugely exciting time for our clients and staff.”
The business was founded in 2000 and recently launched Mining Job Search.com.
The vendors were advised by the Manchester office of investment bank Altium. Legal advice was provided by Rob Buckley, corporate partner at Manchester law firm Kuits.