Wed, 24 Jul 2024 | BUSINESS SALE
Companies specialising in recruitment and talent management services have been acquired out of administration in a deal that secures around 70 jobs and more than 650 contractor roles.
Rethink Professional Services Ltd, Rethink Holdings Ltd and Digital Gurus Recruitment Ltd fell into administration earlier this week, with Julian Heathcote and Clare Boardman of Teneo Financial Advisory appointed as joint administrators of all three firms on July 22.
Shortly following their appointment, the joint administrators secured a sale of the business and assets of the companies to Rethink Digital Gurus. Following the sale, all the companies will continue to trade, preserving all full-time and contractor roles.
The acquired businesses provide recruitment and talent management services across the UK, as well as operating internationally through Rethink Professional Services Ltd and Digital Gurus Recruitment Ltd. Around 95 per cent of the companies’ revenue was generated in the UK, with the remaining five per cent coming from international customers.
The companies’ registered office was located in Manchester, with further leased sites in London and Birmingham. Rethink Professional Services provided enterprise recruitment solutions, while Digital Gurus Recruitment focused on digital and technology talent, including permanent and temporary recruitment solutions.
The buyer, Rethink Digital Gurus, is 100 per cent owned by Talent International (UK) Ltd, which is itself 100 per cent owned by Swipejobs. Swipejobs, a digital staffing platform, operates across all 50 US states, as well as in the UK and Germany through Talent International UK.
Joint administrator Julian Heathcote commented: "This transaction preserves the Rethink and Digital Gurus brands and the jobs of its employees, whilst providing a seamless transition for customers and contractors. We would like to thank all employees and other key stakeholders for their support through this process."
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An exciting opportunity to acquire a well-established independent financial advisor firm with £125m in funds under management in Wiltshire.
Although profitable, this business has quality personnel who can continue working, leading to a smoother transition post sale.
This firm represents a superb opportunity to establish a hub, with staff and offices already in place.
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