Recruiters combine to form £125m turnover group
A trio of companies have joined forces to create a specialist recruitment and staffing solutions business with a combined turnover of £125m.
Nicholas Associates Group (NAG), Red Rock Partnership (RRP) and Syntax Consultancy have combined to form Aristotle Partnerships as part of a strategy to extend their offering in the temporary labour, ports and logistics, manufacturing and IT sectors.
The combined group – which now boasts a network of more than 33 offices and branches across the UK – is looking to float on AIM in late 2023.
Nicholas Associates Group was founded in Rotherham in 1977. It initially supplied site engineers to the construction industry but has since grown to offer a host of staffing solutions to the sector.
Lincoln-based RRP was established in 2007 to provide specialist recruitment services to the food industry, while Syntax supplies staff to the IT sector from its base in Derby.
Syntax and RRP have been integrated with NAG’s existing brands Apprentice Employment Agency, Stafforce, Nicholas Associates, Ashley Kate HR & Finance, Olano and NA Software but will continue to operate under their existing trading names.
Sunaxis Corporate Finance advised the three firms on group structuring, business planning and organisational grooming to facilitate a successful IPO.
NAG founder Nick Cragg said: “The name Aristotle Partnerships was chosen as Aristotle is reputed to be the first leader to mention the phrase ‘The whole is greater than the sum of its parts.’ Being part of a larger like-minded group of companies provides greater opportunities and security for our clients, our people and our candidates. Together we are in a unique position to create stronger indispensable partnerships. By creating a single trading company we are now ideally placed to embark on our next phase of growth.”
Craig Buckingham, chairman at RRP, said: “Our businesses have been built on excellence in customer service and the formation of strong strategic partnerships. The formation of Aristotle Partnerships is an extension of this philosophy. The benefits of working closely and in partnership with like-minded business leaders and their companies strengthens our offering to the marketplace. It will also further enhance our service to our customers, through the creation of back up supply streams, of which we are all already seeing the benefit, and the ability to cross sell into different sectors.”
Syntax MD Roger Frost added: “At a time when recruitment and talent retention have never been more important, we believe that being a part of a larger group that share the same values and aspirations will strengthen our business. Firstly it will create closer ties with clients as we will be able to deliver a wider range of services. Secondly it will create a more secure future in terms of growth and career prospects for our talented and hardworking colleagues.”