Thu, 23 May 2024 | BUSINESS SALE
Approach Personnel, a construction sector recruitment firm based in Nottingham, has acquired fellow local business Simon Nicholas Associates (SNA) for an undisclosed fee. SNA, which was founded in 2009, specialises in supplying construction professionals, skilled trades and labour to clients throughout the UK.
Approach Personnel, which focuses on recruitment in housing, civil engineering, groundworks, fit-out and interiors and manufacturing, says that the deal is a strategic acquisition that will see it absorb SNA, providing access to a range of new locations and contractors.
The two firms work in the same sectors and, collectively, service many of the UK’s largest contractors, including Balfour Beatty, Vinci, Winvic, Barratt Homes and Bowmer & Kirkland, among others.
The deal represents a significant acquisition for Approach Personnel, which generates turnover of more than £20 million, with SNA historically turning over between £3-6 million annually.
The acquisition follows Approach’s 2019 takeover of fellow local recruiter Elizabeth Michael Associates, which specialises in commercial and office-based roles. The SNA deal is said to form “part of an ambitious growth strategy” being implemented by Approach’s leadership team. The company added that it is working on another acquisition, which it expects to complete in 2024.
Alan Spalding, Group Managing Director at Approach, commented: "We have structured plans to triple revenues at our recruitment group, and acquisitions form a critical part of our strategy to achieve these targets. We are currently working on another acquisition and are actively seeking similar companies that may be suitable for Approach Personnel or Elizabeth Michael Associates."
Adam Charlesworth, Group Director at Approach, said: "We have known Simon Pearce for over twenty years and are delighted to have the opportunity to work with him to expand upon what he has built over the past 15 years."
SNA Founder Simon Pearce commented: “I am excited about the future and the opportunities this acquisition brings. We are buying into the vision that Approach Personnel’s Directors have for their business, and I am eager to become a part of it.”
“The professionalism and ease with which this acquisition was handled have been remarkable, and I am confident that this partnership will drive further success for myself at Approach Personnel.”
Solicitors Shakespeare Martineau advised Approach Personnel on the transaction. Roger Harcourt, head of office at Shakespeare Martineau, said: "Approach Personnel has been a client for many years and we have been privileged to witness their rapid growth. Their professionalism and strategic vision make them a standout client in the recruitment sector."
Find out more about M&A trends in the UK recruitment sector
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