Nigel Wright Group have refinanced the business and purchased all outstanding equity from their institutional shareholders, Baird Capital and Beechbrook Capital. This results in 100% management ownership of the business and completes the MBO initiated in October 2020.
The share acquisition was mainly funded with a loan provided by ThinCats who specialise in providing loans to mid-sized UK businesses.
Since the MBO in October 2020, the business has enjoyed rapid market expansion both in the UK and across Europe. 2021 was the most successful year in the company’s 34 year history with record Net Fee Income and profit. Fee earner headcount has also increased by 25% and the firm has launched a new Interim business in Germany as well as expanding into Yorkshire where it is establishing an office in Leeds.
Nigel Wright Group continues to operate from its headquarters in Newcastle upon Tyne where it remains the leading and largest specialist recruitment firm in the North of England and has expanded across Europe to become the number one Consumer sector search specialist.
Paul Wilson, CEO, comments: “During the pandemic we maintained fee earner headcount and subsequently invested significantly in the business. As a result, we have grown market share in all our territories and Nigel Wright has completed the most successful year in its history. I have every confidence in our future. We continue to help local, national and global brands recruit the best talent and actively help adapt and strengthen their capabilities to deal with market developments.”
“My thanks go to the teams at RG Corporate Finance (RGCF), Womble Bond Dickinson and ThinCats in getting this transaction completed. My thanks also go to Baird Capital and Beechbrook Capital LLP for their support over the years. We are actively implementing our growth strategy and remain excited about the opportunities this provides for our people across the Group.”
The management team was advised by Nick Johnson, Corporate Finance Partner at RGCF, and Ben Butler at Womble Bond Dickinson.
Nick Johnson at RGCF commented: “This transaction marks an exciting new chapter in the history of Nigel Wright Group. The business goes from strength to strength both in the UK and internationally, remaining agile and responsive to changing market demands, which is testament to the quality of the whole team.
“It is very rewarding to have advised and supported the management team on this final phase of the management buyout, leading to 100% management ownership. I have no doubt that, with ThinCats’ support, we will see further continued growth in its operations and strengthening of its position in key markets.”
Ben Kimball, Director Regional Business Development at ThinCats: “It is a pleasure to work with ambitious businesses like Nigel Wright and we are excited to support Paul and his experienced management team through their next phase of growth. Already operating the largest multi-disciplined recruitment business in the North, I’m delighted we are able to fund their continued expansion across the North of England and Europe.”
Ben Butler, Partner at Womble Bond Dickinson adds: “We're very proud to continue the long relationship between Nigel Wright and WBD and have no doubt Paul and the team will take the business onto further success.”
This report provides an analysis of salaries commanded by professionals across the North of England.
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