Directorbank buys leading non-exec search firm
DIRECTORBANK, the UK’s leader in boardroom appointments for private equity backed businesses has acquired Hanson Green, the non-executive search firm, for an undisclosed sum.
The deal firmly establishes Yorkshire-based Directorbank as the market leader in the appointment of non-executive directors and forms part of its aggressive growth strategy to build the business in terms of size, services offered and international reach.
Elizabeth Jackson, chief executive of Directorbank, said: “Our two businesses are complementary, with Hanson Green traditionally having worked with quoted companies and Directorbank mainly with private equity investors. Together we are 40 people strong providing a full range of services for clients, whatever their size or stage of development.”
Directorbank, which has its head office in Leeds, and Hanson Green will continue to operate under their own brands within the newly formed Directorbank Group and consolidate their London operations.
Peter Waine, co-founder of Hanson Green, joins the group board: “Directorbank has a unique executive recruitment model and database systems second to none. With our enviable reputations and combined talent we are a powerful force for UK boardrooms.”
Hanson Green, established almost 20 years ago, is an independent search firm offering non-executive search and board consulting. It has appointed chairmen and non-executives to many of the UK’s FTSE boards and also has a financial services division specialising in asset and private wealth management.
Paul Myners, chairman of the Guardian Media Group and former chairman of Marks & Spencer, commented: “Hanson Green was one of the leaders in recognising the need for professional boardroom appointments in order to move away from the ‘old boy’ network. Directorbank equally recognised that many of the old ways of recruiting were outdated and they have created a highly innovative and professional approach that focuses on business needs. It seems an excellent move for the two to come together and ensure boardrooms of the future have the best skills and support available.”
Private equity group Nova Capital Management backed Directorbank’s management buy-out in 2006 and introduced this deal. Mike Selina’s team at
Yorkshire Bank has continued to support Directorbank, which is funding the deal through an extended loan.
Corporate finance advice was provided to Directorbank by Dave Irwin and Andy Miller at BTG McInnes Corporate Finance, and John Sewell, Eversheds, provided legal advice.
Directorbank, established 10 years ago by Yorkshire entrepreneur Jonathan Hick, works with 2,500 of the UK’s top directors keen to get into private equity backed businesses.
It is retained by more than 70 private equity houses, looking to appoint chairmen, non-executive directors, chief executives and finance directors to their deals, both at the time of the transaction and post deal.
Directorbank has also built a strong executive search arm and has a rapidly expanding interim practice.
Recent Directorbank appointments include: John Weston, chairman of MB Aerospace; Andy Nash, chairman of Intercontinental Brands for LDC; Bill Shannon, chairman of The Grill Group for Octopus Private Equity; Roger Parry, executive chairman of Media Square; Dr Raj Rajagopal, non-executive director of Dyson Group; David Mills, non-executive chairman of My Home Move; and Roger Matthews, chairman of LSL Property Services.
Recent Hanson Green appointments include: John Barton, chairman of Next appointed as chairman of Brit Insurance; James Tuckey, chairman of Multiplex appointed as non-executive director of Forth Ports; James Cochrane as chairman of British Red Cross; Richard Needham, chairman, Avon Rubber; Tom Bartlam, chairman, Polar Capital; Jonathan Agnew, chairman, Ashmore Global Opportunities; and high profile charitable appointments including Peter Agar, Director of 800th Anniversary of University of Cambridge.
The management team of Directorbank Group from left to right: Jonathan Hick (Directorbank), Michele Turner (Hanson Green), Ian Menzies (Directorbank), David Wallis (Directorbank chairman), Neil Guilder (Directorbank finance director) Elizabeth Jackson (Directorbank chief executive), Barry Dinan (Hanson Green), Peter Waine (Hanson Green), John Pearce (Directorbank).
