Co-founder buys out partner in recruitment firm MBO
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Specialist IT and digital staffing firm Energize Recruitment has successfully completed a management buyout.
Craig Molloy, co-founder and managing director of the Didsbury-based business has acquired the shares of fellow co-founder, Gavin Jones, to become 100% shareholder in the Energize Group. The MBO has been supported by funding from specialist lender Caple.
The Energize Group, through its four brands, supplies niche IT and digital talent to customers across five countries, offering both permanent and contract recruitment solutions, as well as a ‘Talent-as-a-Service’ subscription model.
Energize says it is renowned for providing outstanding customer service to its clients and candidates and has championed Net Promoter Score in the staffing sector.
The organisation has delivered continued growth since inception and in 2021 the firm will achieve more than £17m in revenue from its 70 full time global employees. A multi award-winning business, recognised only in May 2021 as the fourth ‘Best Recruitment Company to Work For’, Energize Group has a vision to reach 250 employees by the year 2025.
It is set to achieve the next stage of growth by expanding its offering in the current territories, with a specific focus on the USA and Germany. The experienced senior management team is committed to achieve the vision while staying true to the businesses purpose of “world class service” and “employee development”.
Providing corporate finance advice to Craig was Newcastle-based RGCF led by partner and head of CF, Carl Swansbury, CF director Rhiannon Nightingale, and CF executive Tom Cosby. Transactional tax advice was provided by RG’s Simon Whiteside and Simon Hopwood.
Legal advice for Craig was provided by partner Paul Wigham and corporate principal associate Kirsty Adamson of Weightmans.
Providing Gavin with legal advice was Ian Brent, partner at Fladgate, with corporate finance advice from managing director of Azlan Advisory, Sohail Ahmed.
Craig Molloy said: “The MBO marks an end of an era but also a new beginning. Gavin and I, together, have built a very successful business over the last 15 years, and it is extremely pleasing that this transaction works well for both parties.
“I’d personally like to thank Gavin for helping create the business we have today and also wish him and his family all the best for the future. Regarding the group’s international expansion and growth plans, I couldn’t be more excited to be working with the senior leadership team to achieve and execute the group’s international expansion and growth plans.”
Gavin Jones said: “Energize has been my life for the last 15 years and I want to say thank you to everyone who has helped us create this very special brand.
“Craig and I started on this journey hoping to create a business that stood out in what is a crowded market, and I believe we achieved this together with a formidable team around us. I want to wish Craig and Energize the best of luck and I have no doubt that this next phase of growth will bring many more opportunities for everyone involved.”
Carl Swansbury, partner and head of CF at RCGF, said: “Energize Group is a great example of the high quality British firms in the staffing sector that have successfully replicated their model overseas. Its customer and candidate-centric approach and high levels of workforce engagement resonate well with clients in North America, as well as in the UK and Europe, which will enable Craig and the team to maintain the growth trajectory of the business.”