Energize Capital ups stake in Outsauce

ENERGIZE Capital, the investment business formed by corporate financier Jeremy Carr, has upped its investment in recruitment services business Outsauce.

Warrington-based Energize has invested a further £630,000 in Outsauce to support its continued growth.

Since it bought a controlling interest two years ago, Energize has seen Outsauce’s gross turnover increase from £74m to £105m. The company, which is based in Cheltenham and with an office in Warrington, is investing in its IT infrastructure to improve client service to clients and enable it to capitalise on major contract opportunities.

It has also made a key hire with Steve Hartley, the founder of Euro Sales Finance joining as chief operating officer.

Mr Jeremy Carr, who previously worked with Ford Campbell said: “The Outsauce team led by Miles Lloyd has really transformed the business. Steve Hartley’s appointment will help us complete that job. In the circumstances the growth to payrolling over 5,000 workers per week is extraordinary.

“Recruitment agencies are expecting double digit growth this year and the final piece of Outsauce’s jigsaw is the investment in the infrastructure so it can keep up with its clients. I am very excited about the future prospects for Outsauce, hence the further investment.”

Chief executive Miles Lloyd said: “This is tremendous news for Outsauce as we pass the midway point of our four-year growth strategy. The additional investment will enable us to take advantage of some large business gains won recently as well as new opportunities as they arise.

“It also coincides perfectly with our ‘Gear Up For Growth’ initiative and proves we practice what we preach; when properly applied, investment is one of the most important tools for businesses to enhance their services, consolidate growth and pursue continued expansion.”

Corporate partner Danny Varney of Pannone acted for Outsauce. Andrew Page of Altrincham law firm firm McHale & Co acted for the Energize investors. Anthony Richardson of Transaction Support provided transaction support and Tony Woolley of Pareto Tax advised on taxation matters.

Outsauce provides financing,  back office support, and contracting services for recruitment agencies and contractors. It has 40 staff in Cheltenham and 12 in Warrington.

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