Deal brings recruiters into £12m financial consultancy group
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RECRUITMENT firm FDYL has completed a deal which will see it become part of a division of Birmingham-based Woodrow Mercer.
The ‘joint venture’ will see Leeds-based FDYL merge into the £12m-turnover group as its senior financial recruitment division, Woodrow Mercer Finance.
Woodrow Mercer specialises in IT, public sector and e-learning recruitment whilst FDYL was founded 30 years ago and recruits finance directors and financial controllers.
It will continue to run its own consultancy arm in support of Woodrow Mercer Finance from its Leeds base on Park Cross Street.
James Roach will join the board, alongside FDYL directors Neil Muffitt, Mark Raven and Andrew Hill. Dan Ostrowski of Woodrow Mercer will also join the board of the new business, which will be based in Leeds.
FDYL managing director Neil Muffitt said: “The senior financial recruitment specialism is very attractive to the marketplace and with the national reach and network of existing client relationships, this joint venture makes perfect sense for both businesses.
“We are able to retain the personal involvement and service that our very loyal client base in the North expects, but we will also gain resources and personnel to broaden our reach to cover the whole UK immediately. Overnight, we have gained access to the back office systems and economies of scale of a national recruiter.”
Dan Ostrowski of Woodrow Mercer Finance said: “We have been looking to set up a finance division for some time and were immediately attracted by the very consultative and strategic services offered by this well established firm.
“The senior team are all finance directors, the ethos of ‘FDs recruiting FDs’ resonates well with the market, and is a demonstrable difference to most of the recruiters in the finance sector.
“It makes a great deal of sense to take that offering to our clients, and to the other locations in which we operate, and take on the financial recruitment market with a fresh perspective and a proven and growing team in place,” he concluded.