Management team completes buyout to take thriving division to market
Michael McNeill and his team have completed a management buyout of the construction division of Worldwide Recruitment Solutions (WRS) for an undisclosed sum.
With the MBO now complete Mike and his team will provide their services via ‘We Build Recruitment’ (WBR).
Based in Manchester city centre, WBR is a specialist recruitment agency providing both blue- and white-collar contractors to the construction market on a temporary and permanent basis, supporting clients across the whole of the UK.
With an already established client and contractor database, WBR is aiming to grow its current contractor numbers to more than 400.
It is estimated that this will position it as a top five construction recruitment agency in the North West, based on contractor numbers.
Management were supported by Fieldfisher, Manchester for legal advice.
McNeill, managing director at We Build Recruitment, said: “After starting the WRS Trades & Labour division in 2016 and successfully building it to a £10m annual turnover, supported by a team of nine, I felt it was the right time to venture out into the market as a standalone business and build on those foundations.
“With the continued growth of construction projects in Manchester and the North West, labour requirements are at an all-time high and being able to provide high-quality, temporary white- and blue-collar labour to clients who are building the future of Manchester is my team’s motivation.
“The plan for WBR is to set us apart from the typical recruitment company and deliver a fast, reliable and, more importantly, honest service, to not only our clients but also our contractors.
“We will continue to supply qualified and trustworthy labour as standard, it’s the only way to build a strong working relationship with clients. We Build by name, We Build by reputation.”
Worldwide Recruitment Solutions (WRS), a workforce solutions company with divisions in key engineering industry sectors worldwide, which fully supported the recent management buyout, felt that market conditions were perfect for the sale of the thriving construction division, allowing it to concentrate on other key areas of its portfolio.
Mark Brown, chief executive at WRS said: “The timing was right for all parties, for Mike and his team to take this successful division to market as a standalone business. We at WRS would like to take this opportunity to wish WBR all the best of luck for the future.”