Company hopes to create ‘new model army’ of recruiters after landing funding deal
Solihull-based executive recruitment firm, Quantum Group Solution, has secured its first round of investment of £730,000 from the Midlands Engine Investment Fund (MEIF) through venture capital firm, Midven.
Quantum specialises in global executive recruitment and outplacement. The firm covers an array of sectors including technology, industry, energy, infrastructure, transport and pharmaceuticals.
Quantum is set to use the funding to develop a new business that it says will futureproof the organisation and develop a “new model” for the recruitment industry.
Quantum Network Solutions (QNS) will be launched in January 2021. The firm says the new offering is “a new business set up to offer the current and upcoming generation of recruiters a ‘new model’ of working in recruitment where they have complete freedom and control of their own destiny”.
The business will look to attract entrepreneurial professionals who want to set up their own recruitment business but don’t necessarily want to manage all of the back-office functions. They will have the opportunity to work inside a larger organisation with the reach and expertise whilst developing their own business and possibly their own team.
QNS will offer a fully integrated solution to allow them to be part of a global organisation whilst maintaining and developing their own business stream and future.
QNS will provide business mentoring, HR, training and development, credit control, finance management and marketing.
Tony Wright, founder of Quantum Group said: “The injection of cash allows us to build on the exceptional and unique culture of the business and to develop the Quantum Network Solutions business whilst we also grow our core international recruitment business. The QNS business is expected to provide a strong recurring revenue base over time, while also enabling our company to expand its portfolio, and we are excited to see where this leads us in the future.
“We are honoured to have received this investment from Midven through the MEIF as it allows us to remain leaders in our sector and supports our entry to new and thriving markets where we believe recruitment will be leaning towards in the future.”
Surjit Kooner, investment director at Midven, said: “Quantum provides the MEIF and West Midlands Equity Fund with an exciting opportunity to support an established business with ambitious growth plans. With an experienced management team, and existing customer base, the company is now looking to accelerate growth across permanent and interim solutions.”
Ken Cooper, managing director at the British Business Bank, said: “With the MEIF contributing to 20 per cent of total equity finance deals across the Midlands, this latest investment in Quantum is a great example of how the Fund can help established businesses to realise their growth ambitions.”
Pat Hanlon, director for access to finance at GBSLEP, said: “Quantum has experienced great success in its first 20 years of trading and we’re pleased to see this funding being put in place to help expand its services and provide jobs for local people.
“This is a fine example of the type of investment which is available to businesses within Greater Birmingham and Solihull. Regardless of whether it is to help develop a start-up or an expansion of a well-established SME, there are a multitude of options available to help grow businesses.”
