MBO at Leeds recruitment firm

The management at mid-market recruitment group Directorbank have bought the company from private equity house Nova Capital.

The buyout was led by Directorbank managing director Graham Jones, with the help of company directors Dorothea Kronenberghs, James Searby, George Heppenstall and Simon Thomas.

The team take 100% equity ownership of the Leeds-based pany, which was founded in 1998. Since then, it has grown as a provider of executive and non-executive directors and a supplier of mid-market senior level talent to the UK and Germany.

Loan finance has been provided by Enterprise Ventures, part of Mercia Technologies. Advisors on the deal were Simon Fielder of international law firm Bird & Bird and Tony Perkins of BDO London.

The transaction was also supported by Isabelle Inskip of Weightmans on behalf of Enterprise Ventures.

Chris Pestell, investment director at Enterprise Ventures, commented: “We are delighted to support Directorbank with this transaction and have been really impressed by the highly skilled Management Team, and their depth of experience in the markets that they serve.

“We look forward to working with the team as they build on the foundations that are already firmly established.”