Baker Tilly-advised deal ‘demonstrates trade appetite’

THE SALE of a Midlands recruitment firm shows there is appetite amongst trade buyers for well-run companies, according to Baker Tilly’s corporate finance director, who advised on the deal.

Huntingdon industrial staffing agency Qubic Recruitment Solutions was acquired for an undisclosed sum by Nottingham-based outsourcing organisation Staffline Group.

Qubic MD Mark Ambler and fellow shareholders, built built the firm into one of the largest independent recruitment agencies in Cambridgeshire following its launch in 2004. It places more than 350 temporary staff each week with some of the UK’s largest manufacturing companies.  

Andy Hogarth, Staffline’s Chairman and chief executive, said: “Qubic is an excellent fit with Staffline.  The business has principles very similar to our own and will provide us with a strengthening of our offering in the manufacturing sector.

“Our strong trading performance will enable us to continue to look for similar acquisition opportunities to enhance the Group.”

Qubic’s Mark Ambler said: “Qubic has built a very strong reputation over the last six years. The amalgamation of the business into the Staffline network will provide us with an excellent opportunity to grow the company with a national partner. We see great potential to offer increased services to our existing customer base.”

Baker Tilly’s Birmingham-based corporate finance director Tom Gallop led the deal for the vendors.   

He said: “The successful completion of this deal reinforces the positive outlook for corporate finance activity in the region.  There is a definite appetite from trade buyers for acquiring well-run businesses.”

 “Whilst the corporate finance market and deal volumes are starting to pick up once again post-recession, it is more important than ever before to plan properly for any transaction and to seek high quality advice from professionals who specialise in corporate finance.”