By Kyrus Keenan Wescott
Nigel Frank International Limited, the global IT specialist recruitment company, has raised £22 million from Livingbridge and HSBC Bank plc.
Livingbridge has taken a 35% stake in the company.
Nigel Frank specializes in recruiting permanent and temporary contract candidates into vacancies relating primarily to Microsoft Dynamics software across the globe. Their clients include Microsoft, Avanade, KPMG as well as the Lotus F1 Team to whom they are official business partners.
The business was established in Newcastle upon Tyne in 2006 by Sean Wadsworth (CEO) and Nigel O’Donoghue (CFO), and since that time has rapidly grown to become the recognized brand leader in Microsoft Dynamics staffing.
In addition to the headquarters in Newcastle upon Tyne, the business has offices in London, New York, Singapore, and Melbourne, with the latest office in San Francisco opening in 2013.
The investment will enable the business to continue its global expansion and to diversify into new markets through potential acquisitions and new offices in the US and EMEA, as well as enable the management team to realize some of the value of the business they have built up over the last 7 years.
Xavier Woodward, Shani Zindel, and David Cotter led the deal on behalf of Livingbridge , with Xavier and Adam Holloway joining the Board. Stephen Ross, whose experience in the recruitment sector includes chair roles at Huntress Holdings Limited and NES Group Limited, will join the Board as Chairman.
Sean Wadsworth, CEO, and Co-Founder, Nigel Frank International, comments:
“Nigel and I are delighted to be working in partnership with Livingbridge to drive the business forward over the next 3-5 years. With their unique blend of skills and belief in our strategy of rewarding our future business leaders, we believe they are ideally positioned to support us as we look to open new territories and markets both by organic growth and acquisition.
We are particularly pleased to be able to create a new category of shareholder in our management team to reward and incentivize them over the coming years”
Xavier Woodward, Investment Director, Livingbridge Equity Partners, comments:
“Nigel Frank is a super business with a really clear proposition in a growing market. We have been impressed by the way Sean, Nigel, and the team have combined their entrepreneurial flair with a thoughtful approach to building a robust business with a genuinely international footprint. We are looking forward to working with the team to consolidate and build on this strong market position.”
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