Fircroft strengthens Gulf presence

FIRCROFT, the international recruiter specialising in the engineering and oil and gas sector, has bolstered its presence in the Middle East.

The Warrington company has made a “significant” investment into a joint venture with Saudi Arabian consultancy, Seder Group.
 
Based in Riyadh, Seder Group is a large family-owned business with more than 20,000 staff and operations in UAE and Afghanistan across a range of infrastructure and maintenance projects in the public and private sectors.

The investment takes Fircroft’s footprint in the Middle East to six offices , with more than 600 employees and consultants in the region.

Johnathan Johnson, chief executive of Fircroft said: “By investing in this joint venture we are gaining substantial expertise, knowledge and experience in the Kingdom which is invaluable as we look to continue to service our valued clients in this strategically important oil-producing country.
 
“Over the past 12 months we have been running several global recruitment campaigns outside of the region for our Saudi-based technical engineering clients, supporting the permanent recruitment and mobilisation of over 300 workers into the country.

“Our investment in the Kingdom of Saudi Arabia highlights that our continuing appetite for growth remains healthy, even with the prevailing market sentiment over the current oil price level.”

Fircroft, which is backed by private equity firm Equistone,  had revenues of nearly £900m in 2013.

A corporate team from law firm Addleshaw Goddard led by partner Roger Hart advised Fircroft on its investment in the joint venture.

Deloitte provided due diligence on the transaction with assistance from the firm’s Middle Eastern practice.