Gordons advises Clear Edge co-founders on MBO

Gordons has advised on a management buy-out (MBO) at Clear Edge Search & Selection, a recruitment consultancy specialising in the fast moving consumer goods (FMCG), iGaming and technology sectors.

Co-founders Terry Batty and Tom Fox, who established the Leeds-based company in 2011, have acquired the shareholding of corporate shareholder CSG to now own 100% of the company. Gordons corporate solicitor Amy Pierechod advised the co-founders on the MBO.

International staffing and executive search business CSG supported the establishment of Clear Edge by providing the co-founders with capital investment, along with, training, IT, accountancy, finance and back-office services.

This support has enabled Clear Edge to build its presence in the consumer goods and digital sectors, placing candidates in roles from middle management to board level. Clear Edge has developed particular market expertise in the food, drinks, consumer durables and health, beauty and household product sectors.

The business has also expanded into the sports betting and iGaming sectors and has established a dedicated division, Clear Edge Betting & Gaming, to service these fast-growing markets.

As a result, Clear Edge has grown significantly and has been able to build in-house accountancy, finance and compliance capabilities, facilitating the opportunity for the MBO.

Terry Batty, director of Clear Edge, said: “The support provided by CSG has been an invaluable part of the development of the business and has enabled our team to focus on delivering world class services to our clients and candidates.

“We have enjoyed positive growth in our core markets as FMCG continues to be a cornerstone of the UK economy and we look forward to the next stage of our scale-up journey.”

The MBO provides Batty and Fox with autonomous ownership of Clear Edge, enabling them to implement the next stage of its scale-up strategy to increase its share in its key markets.

Wayne Underwood, co-owner of CSG, added: “The investment and guidance we have provided Clear Edge created the fundamental building blocks required to establish and grow the business and we are proud of the progress the business has made. As a result, we are confident that the business is now in a position to stand independently under the effective leadership and ownership of Terry and Tom.”

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