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SOLD: London-Based Temporary & Permanent Staff Agency

The business, located in the heart of the City of London, provides temporary and permanent secretarial and administrative staff, predominantly to the financial services sector.

This sale was a difficult journey for the vendor. Having originally engaged Anderson Shaw in October 2012, the business generated good levels of interest and Heads of Terms were agreed with a private buyer in 2013. Unfortunately between Heads of Terms and Completion the vendor was advised by its largest client that a master vendor solution was being introduced and as a consequence the deal fell through.

The change in circumstances necessitated the vendor taking the business off the market for a period of time in order to restabilise its financial position. Anderson Shaw continued to provide advice on an exit strategy and was re-engaged to market the business again in March 2015. A sale of assets and goodwill to a trade buyer also located in the City was negotiated and the deal completed in early October 2015.

In order to achieve best value for the business a significant performance related element was negotiated, which the vendor expects to result in the guide price for the business being exceeded.

 


Anderson Shaw has offices on the outskirts of Coventry and provides business broker and corporate finance services for clients throughout the Midlands and the UK.

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