Recruitment firm acquisition creates £30m group
THE acquisition of a specialist engineering recruiter has created a £30m turnover firm.
Huddersfield’s Major Recruitment Group has bought Torus, a £6m turnover firm with offices in Doncaster and Newton Aycliffe. It was founded in 1995 by Will Mora, with 10 staff members, and was put into administration on May 1.
Howard Smith and Jonny Marston from KPMG were appointed as administrators.
The newly made group will employ 75 people, and bolster the firm’s credentials as a recruiter to the engineering, offshore and oil and gas sectors.
Major already covers logistics, healthcare and executive placements, and the acquisition will extend the firms reach into the North East, with plans to also expand in the North West with a Liverpool office in the pipeline.
Phil Bottomley, managing director of Major Recruitment, said: “Our strategy of organic and acquisitive growth in new markets enables us to provide unique multi-sector solutions to our clients.
“Our independent structure allows us to be dynamic and focus on our core values which is fundamentally about delivering an exceptional service to our clients.”
He added: “I am delighted to welcome Torus into the Major Group and look forward to working with the team to build upon their success so far.
“Our integration plan will see additional resources, wider divisional market support coupled with investment into training, additional team talent and general infrastructure upgrades to support the impressive growth plans.”
Dan Summerfield of Panacea Investment Group provided advisory services to Major Recruitment.
Mr Summerfield added: “This is an excellent acquisition for Major, the strategic fit for the business both in terms of access to new territories and indeed entry to new sectors will deliver significant upside for both Major and importantly its ability to further enhance its offering to its existing and new clients”.
Other advisors on the transaction included, Schofield Sweeney, Paragon Financial Management and Clarion Solicitors. Funding for the transaction was provided by ABN AMRO.
