Gordons advises on management buy-out of GatenbySanderson
Wednesday 14th January 2015
Gordons has advised the management team on the MBO of recruitment firm GatenbySanderson with backing from private equity firm Primary Capital.
The MBO from founder Graham Goodwin, for an undisclosed sum will see joint managing partners, Mark Turner and Martin Tucker, continue to lead the business, supported by the existing board members.
A Gordons client since it was launched in 2002, GatenbySanderson currently employs a team of more than 90 people with offices based in Leeds, London and Birmingham.
Martin Tucker commented, “As a market leading business that has grown significantly in the last few years, we are delighted to complete this deal and have the opportunity to realise further expansion, be that greater sector depth, broader public services or rolling out new products as part of our technical innovation.
“We are incredibly fortunate, across the business, in having a very talented team with a heartfelt desire to grow faster and further.
“This deal puts that ambition directly into our own hands and we intend to make the most of it. Finding new talent is our first priority.“
The deal was led by Alistair Armstrong and Oliver Melliss at Primary, who both join the GatenbySanderson board as non-executive directors.
Alistair Armstrong said: “GatenbySanderson is an excellent example of a truly differentiated executive resourcing firm. The business’s relentless focus on quality, its strong team-driven culture and impressive proprietary technology produce consistently outstanding results for its clients. Management have identified some compelling areas for further investment and innovation and we very much look forward to working with them to help the business achieve its ambitious growth plans”.
The GatenbySanderson management team was advised by Head of Corporate, James Fawcett with assistance from solicitor, Amanda Hughes and employment partner Philip Paget.