Leonard Curtis takes major stake in NED recruitment platform
Professional services group Leonard Curtis has acquired a majority stake in Virtualnonexecs.com, a peer-2-peer community that connects directors with companies.
It’s so-called sweet spot is in private equity and venture capital backed businesses and helps source suitable non-executive and chair professionals – eliminating the high recruitment fees typically associated with these appointments.
Founded by Ian Wright in 2019, and later joined by Mike Critchley as non-executive director, the Virtualnonexecs platform operates as a SaaS business, utilising AI technology. It introduces leading talent into a range of businesses – from start-ups to PLCs – strengthening global board performance and strategic oversight.
The deal is the fourth since Leonard Curtis attracted investment from family investment office Arete Capital Partners in partnership with SVELLA Plc in August 2021. The deal saw a £15 million investment into Leonard Curtis, valuing it then at £40 million.
The deal adds a fourth ‘Business Services’ pillar to its Restructuring & Insolvency, Funding and Legal specialisms.
The investment will give the group access to over 22,000 non-execs, chairpersons and fractional board members and access to over 40,000 company boards worldwide.
Virtualnonexecs has also launched the Operator Network (OpNet) – a platform that streamlines senior non-executive and chair recruitment, offering access to its 22,000 members with no “per hire” fees. It has also created a successful off-market deals platform (DealDirect).
Dan Booth, CEO of Leonard Curtis said the partnership would play a pivotal role in helping to deliver the Group’s growth ambitions.
“Virtualnonexecs is an international online eco-system of high growth companies, c-suite talent and professional advisory skills which will take us to a new level.
“Ian and Mike have fostered outstanding connections between companies and non-executive talent, connections that we will find invaluable as we continue to provide innovative solutions for business owners, corporates and their advisers in the distress and non-distress sector.”
Commenting on the investment from Leonard Curtis, Ian Wright at Virtualnonexecs said: “We’ve had the privilege of working with Leonard Curtis for several years and have consistently been impressed by their expertise and approach. When it came time to find the right partner, Leonard Curtis was the perfect fit to help us further our mission of connecting exceptional talent with the businesses that need it most.”
The transaction was led by Leonard Curtis Chief Financial and Operations Officer, David Brown and supported by Jen Moore at LC Legal. M&A advice was provided by Tim Marlow, Vijay Mistry and Mark Foster of Contrado Capital with legal advice from Andy Herricks of Clough and Willis.
L-R: David Brown, Chief Financial and Operations Officer – Leonard Curtis; Ian Wright, Founder and CEO – Virtualnonexecs; Gary Cain, Head of Funding – Leonard Curtis; Mike Critchley, Non-Executive Director – Virtualnonexecs; Dan Booth, CEO – Leonard Curtis.
