Recruitment outsourcing company acquired in MBO

A recruitment outsourcing business based in Knutsford, Cheshire has been bought in a management buyout.

The de Poel company, who works with approximately 120 clients including Sainsbury’s, Warburtons and the NHS, has a £700 million turnover. Established in 2001, it has been purchased by the senior management team which has acquired a majority stake in a multi-million pound deal led by group managing director, Andrew Preston.

Mr Preston will take on the role of chief executive for the business and will go ahead with plans for expansion and development of a number of products and technology platforms. John Walker, previously of Equistone Partners Europe and Barclays, will become de Poel’s new non-executive chairman and will support the board.

In a statement, Mr Preston said: “Having been part of the de Poel journey for the last three years, I am very much looking forward to taking the reins and leading the company forward.

"As the NHS continues to face extreme budgetary pressures and private firms wait to see what the fall-out from Brexit may be, organisations are increasingly looking for commercial and administrative efficiencies in their temporary recruitment processes – without compromising on quality or fair pay for workers. de Poel has a huge part to play in providing this service in the UK, and we will be refocusing our efforts on cementing our position as a leader in this field."

The purchase was supported via a facility from Tosca Debt Capital, which provides debt capital of between £5m and £20m to SMEs. Santander Structured Finance also supported the buyout and will continue to provide working capital as the company’s incumbent bank.

Tosca Debt Capital said that they were “delighted” to have supported de Poel management team and look forward to working with the company to “achieve its full potential”.

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