This Company is a substantial, independent recruitment consultancy with a c. 20 year history, predominantly supplying contract IT staff to the corporate, Financial Services and Local Authority sectors. The business has diversified in recent years to provide sales / marketing, HR and office support staff as well. It has exceptional expertise in these sectors and the founder believes now is the right time to transfer the business to new owners capable of taking it to the next stage.
The Company has been very successful in achieving Preferred Supplier status with many of its Clients and has won a number of very competitive tender processes to obtain formal contracts with several large and prestigious Public Sector and Financial Services organisations. There is also a substantial database of qualified candidates. The Company has built strong, long term relationships not only with Clients but also with candidates so that rates of successful placements are high and there is a good level of repeat business from both Clients and candidates.
The Company is a corporate member of the Recruitment and Employment Federation (“REC”) and is well underway with its preparations for the implementation of the General Data Protection Regulation (“GDPR”) with an action plan to be fully compliant.
The Company’s website acts as a strong shop window in attracting new candidates and supporting Client placements through simplified vacancy registration routines.
Average contract lengths for contractors supplied by the business are from 4 - 6 months at daily rates from £200 to £600. Some contractors have been with the company with over 5 years.
The business is based in fully serviced offices in London, providing easy access to the Capital and the South East. There are 6 employees including the owner based in the offices.
In the next complete financial year the business is expected to achieve sales of close to £5.5M with an Adjusted EBITDA of c. £210K. The owner would expect organic growth to yield sales of in excess of £7M within 3 years. The Company has a stronger balance sheet than would typically be expected because it does not use a factoring facility.
The Guide Price for the business is £875K for the 100% of the shares of the business debt free, cash free. The owner is prepared to stay on in an appropriate part time role to assist the acquirer for a period of up to six months.